Annual report pursuant to Section 13 and 15(d)

UNCOMPLETED CONTRACTS

v3.24.1.u1
UNCOMPLETED CONTRACTS
 12 Months Ended
Dec. 31, 2023
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 8 - UNCOMPLETED CONTRACTS

 

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

 

    December 31,     December 31,  
    2023     2022  
             
Revenue recognized   $ 621,800     $ 440,200  
Less: billings to date     (604,800 )     (301,500 )
                 
Contract assets     17,000       138,700  
                 
Billings to date     2,262,000       2,849,400  
Revenue recognized     (1,432,200 )     (2,313,400 )
                 
Contract liabilities   $ 829,800     $ 536,000