Contract Assets and Contract Liabilities (Details) - USD ($) |
Mar. 31, 2019 |
Dec. 31, 2018 |
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Costs and estimated earnings on uncompleted contracts | ||
Costs incurred on uncompleted contracts | $ 11,175,706 | $ 11,307,975 |
Estimated earnings to date on uncompleted contracts | 1,032,413 | 838,615 |
Gross contract assets | 12,208,119 | 12,146,590 |
Less: billings to date | (13,776,176) | 13,221,152 |
Net contract assets (liabilities) | $ (1,568,057) | $ (1,074,562) |
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- Definition Contract with customer asset liability No definition available.
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- Definition Costs in excess of billings to date. No definition available.
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- Definition Costs incurred on uncompleted contracts. No definition available.
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- Definition Estimated income loss on uncompleted contracts. No definition available.
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- Definition Amount billed to customers under long-term contracts or programs that have been withheld because of retainage provisions in a contract. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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