Quarterly report pursuant to Section 13 or 15(d)

UNCOMPLETED CONTRACTS

v3.22.2.2
UNCOMPLETED CONTRACTS
 9 Months Ended
Sep. 30, 2022
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 8 – UNCOMPLETED CONTRACTS

 

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

 

    September 30,     December 31,  
    2022     2021  
    (unaudited)        
Revenue recognized   $ 341,700     $ 285,600  
Less: billings to date     (265,300 )     (282,000 )
                 
Contract assets     76,400       3,600  
                 
Billings to date     3,294,000       1,578,300  
Revenue recognized     (2,773,600 )     (1,052,400 )
                 
Contract liabilities   $ 520,400     $ 525,900