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Business, 02.07.2020 06:01 cristian691023

Ronin Corp. recognizes revenue over time related to a long-term contract. The contract price is $5,000,000, total expected construction costs are $3,000,000, and actual costs incurred during the first year are $300,000. Actual costs for year 2 are $900,000 and estimated cost to complete is $1,800,000. The amount of previously recognized revenue is $500,000. Revenue recognized for year 2 is:

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Ronin Corp. recognizes revenue over time related to a long-term contract. The contract price is $5,0...

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