Quarterly report pursuant to Section 13 or 15(d)

UNCOMPLETED CONTRACTS

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UNCOMPLETED CONTRACTS
 9 Months Ended
Sep. 30, 2024
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 8 – UNCOMPLETED CONTRACTS

 

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

 

  September 30,     December 31,  
    2024     2023  
  (unaudited)     *  
Revenue recognized   $ 1,174,500     $ 621,800  
Less: billings to date     (1,140,200 )     (604,800 )
Contract assets     34,300       17,000  
Billings to date     2,752,500       2,262,000  
Revenue recognized     (2,066,700 )     (1,432,200 )
Contract liabilities   $ 685,800     $ 829,800