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Upton Company Has Consistently Used the Percentage-Of-Completion Method of Recognizing

Question 33

Multiple Choice

Upton Company has consistently used the percentage-of-completion method of recognizing income.In 2010,Upton started on an $18,000,000 construction contract that was completed in 2012.The following information was taken from Upton's 2010 accounting records: Upton Company has consistently used the percentage-of-completion method of recognizing income.In 2010,Upton started on an $18,000,000 construction contract that was completed in 2012.The following information was taken from Upton's 2010 accounting records: What amount of revenue should Upton recognize on the contract in 2010? A) $6,000,000 B) $5,400,000 C) $9,000,000 D) $0 What amount of revenue should Upton recognize on the contract in 2010?


A) $6,000,000
B) $5,400,000
C) $9,000,000
D) $0

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