Quarterly report pursuant to Section 13 or 15(d)

UNCOMPLETED CONTRACTS

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UNCOMPLETED CONTRACTS
 9 Months Ended
Sep. 30, 2023
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 8 – UNCOMPLETED CONTRACTS

 

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

 

    September 30,     December 31,  
    2023     2022  
    (unaudited)        
Revenue recognized   $ 621,900     $ 440,200  
Less: billings to date     (604,600 )     (301,500 )
                 
Contract assets     17,300       138,700  
                 
Billings to date     1,807,900       2,849,400  
Revenue recognized     (1,151,100 )     (2,313,400 )
                 
Contract liabilities   $ 656,800     $ 536,000