Quarterly report pursuant to Section 13 or 15(d)

UNCOMPLETED CONTRACTS

v3.22.2.2
UNCOMPLETED CONTRACTS
 6 Months Ended
Jun. 30, 2022
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 8 – UNCOMPLETED CONTRACTS

 

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

 

    June 30, 2022     December 31, 2021  
    (unaudited)        
Revenue recognized   $ 1,083,500     $ 285,600  
Less: billings to date     (915,900 )     (282,000 )
                 
Contract assets     167,600       3,600  
                 
Billings to date     989,800       1,578,300  
Revenue recognized     (640,500 )     (1,052,400 )
                 
Contract liabilities   $ 349,300     $ 525,900