Quarterly report pursuant to Section 13 or 15(d)

Costs and Estimated Earnings on Uncompleted Contracts

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Costs and Estimated Earnings on Uncompleted Contracts
9 Months Ended
Sep. 30, 2017
Contractors [Abstract]  
Costs and Estimated Earnings on Uncompleted Contracts

11. COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

 

Costs and estimated earnings in excess of billings on uncompleted contracts are summarized as follows:

 

    September 30, 2017  
Costs incurred on uncompleted contracts   $ 56,674  
Estimated earnings     9,463  
      66,137  
Billings to date     (66,742 )
         
    $ (605 )
         
Included in the accompanying balance sheets:        
Costs and estimated earnings in excess of billings   $ 6,773  
Billings in excess of costs and estimated earnings     (7,378 )
         
Total   $ (605 )