Annual report pursuant to Section 13 and 15(d)

UNCOMPLETED CONTRACTS

v3.3.1.900
UNCOMPLETED CONTRACTS
12 Months Ended
Dec. 31, 2015
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 6 - UNCOMPLETED CONTRACTS

 

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

 

 

    December 31,
    2015   2014
         
Revenue Recognized   $ 1,814,300     $ 168,700  
Less: Billings to date     (1,610,300 )     (107,600 )
Costs and estimated earnings in excess of billings on uncompleted contracts   $ 204,000     $ 61,100  
                 
Billings to date   $ 2,273,400     $ 1,250,900  
Revenue recognized     (1,685,500 )     (942,400 )
Billings in excess of costs and estimated earnings on uncompleted contracts   $ 587,900     $ 308,500