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

question 26

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Upton Company has consistently used the percentage-of- 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- 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?


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