Quarterly report pursuant to Section 13 or 15(d)

UNCOMPLETED CONTRACTS

v3.23.2
UNCOMPLETED CONTRACTS
 6 Months Ended
Jun. 30, 2023
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 8 – UNCOMPLETED CONTRACTS

 

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

 

   

June 30,

2023

    

December 31,

2022

  
    (unaudited)        
Revenue recognized   $ 899,000     $ 440,200  
Less: billings to date     (825,000 )     (301,500 )
Contract assets     74,000       138,700  
Billings to date     1,603,900       2,849,400  
Revenue recognized     (1,090,900 )     (2,313,400 )
Contract liabilities   $ 513,000     $ 536,000