Quarterly report pursuant to Section 13 or 15(d)

UNCOMPLETED CONTRACTS

v3.22.1
UNCOMPLETED CONTRACTS
 3 Months Ended
Mar. 31, 2022
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 8 – UNCOMPLETED CONTRACTS

 

Costs, estimated earnings and billings on uncompleted contracts are as follows:

 

    March 31,     December 31,  
    2022     2021  
    (unaudited)        
Revenue recognized   $ 679,300     $ 285,600  
Less: billings to date     (664,400 )     (282,000 )
                 
Contract assets     14,900       3,600  
                 
Billings to date     1,032,000       1,578,300  
                 
Revenue recognized     (508,500 )     (1,052,400 )
                 
Contract liabilities   $ 523,500     $ 525,900