Annual report pursuant to Section 13 and 15(d)

UNCOMPLETED CONTRACTS

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UNCOMPLETED CONTRACTS
 12 Months Ended
Dec. 31, 2021
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 8 - UNCOMPLETED CONTRACTS

 

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

 

    December 31,     December 31,  
    2021     2020  
             
Revenue recognized   $ 285,600     $ 102,700  
Less: billings to date     (282,000 )     (95,900 )
Contract assets     3,600     6,800  
                 
Billings to date     1,578,300       1,716,800  
Revenue recognized     (1,052,400 )     (1,392,900 )
                 
Contract liabilities   $ 525,900     $ 323,900