Use the Following Information for Questions

question 22

Multiple Choice

Use the following information for questions.
Alternative Ltd.Began work in 2017 on a contract for $1,200,000.Other details follow:
-Assume that Alternative uses the percentage-of-completion method of accounting.The portion of the total gross profit to be recognized in 2017 is

• A)$75,000.
• B)$100,000.
• C)$300,000.
• D)$400,000.

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Definitions:

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries are made, used to prepare financial statements.