Answer:
2018: 28% 2,800,000
2019: 22% 2,200,000
2020: 50% 5,000,000
Explanation:
2018 revenue
total cost:
2,044,000 + 5,256,000 = 7,300,000
percentage of completion: 2,044,000/7,300,000 = 28%
revenue recognition: 10,000,000 x 28% = 2,800,000
2019 revenue
cost: 2,628,000 + 2,628,000 = 5,256,000
percentage of completion: 2,628,000 / 5,256,000 = 50%
revenue recognition: 10,000,000 x (50% - 28%) = 2,200,000
2020 revenue
as the company's finished the cosntruction it recognzie the entire amount left
10,000,000 - 2,800,000 - 2,200,000 = 5,000,000
