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Chimizo Inc. has signed a long-contract to build a...

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Chimizo Inc. has signed a long-contract to build a new sports arena. The total revenue related to the contract is $750 million. Estimated costs for building the arena are $245 million in the first year and $175 million in both the second and third year. The costs incurred in the first year is $225 million. The costs cannot be reasonably estimated. How much revenue should Green Co. report in their first year under iGAAP?

 

Paper#11735 | Written in 18-Jul-2015

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