Annual report pursuant to Section 13 and 15(d)

UNCOMPLETED CONTRACTS

v3.23.1
UNCOMPLETED CONTRACTS
 12 Months Ended
Dec. 31, 2022
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 8 - UNCOMPLETED CONTRACTS

 

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

 

    December 31,     December 31,  
    2022     2021  
   

       
Revenue recognized   $ 440,200     $ 285,600  
Less: billings to date     (301,500 )     (282,000 )
                 
Contract assets     138,700       3,600  
                 
Billings to date     2,849,400       1,578,300  
Revenue recognized     (2,313,400 )     (1,052,400 )
                 
Contract liabilities   $ 536,000     $ 525,900