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

Question 39

Multiple Choice

Tiger Company has consistently used the percentage-of-completion method of recognizing income. In 2005, Tiger started on an $18,000,000 construction contract that was completed in 2007. The following information was taken from Tiger's 2005 accounting records: Tiger Company has consistently used the percentage-of-completion method of recognizing income. In 2005, Tiger started on an $18,000,000 construction contract that was completed in 2007. The following information was taken from Tiger's 2005 accounting records: What amount of revenue should Tiger recognize on the contract in 2005? A) $6,000,000 B) $5,400,000 C) $9,000,000 D) $0 What amount of revenue should Tiger recognize on the contract in 2005?


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

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