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Contract Assets and Contract Liabilities (Tables)
9 Months Ended
Sep. 30, 2019
Contract Assets and Contract Liabilities [Abstract]  
Schedule of costs and estimated earnings on uncompleted contracts

 

 

 

September 30, 

2019

 

 

December 31,

2018

 

 

Costs incurred on uncompleted contracts

 

$

228,461

 

 

$

11,307,975

 

 

Estimated earnings to date on uncompleted contracts

 

 

79,852

 

 

 

838,615

 

 

Gross contract assets

 

 

308,313

 

 

 

12,146,590

 

 

Less: billings to date

 

 

(540,715

)

 

 

(13,221,152

)

 

    Net contract assets (liabilities)

 

$

(232,402

)

 

$

(1,074,562

)

Schedule of costs included in condensed consolidated balance sheets

   



September 30, 

2019



December 31,

2018

 

 

Costs and estimated earnings in excess of billings on uncompleted contracts

 

$

8,689

 

 

$

260,325

 

 

Billings in excess of costs and estimated earnings on uncompleted contracts

 

 

(241,091

)

 

 

(1,334,887

)

 

    Net contract assets (liabilities)

 

$

(232,402

)

 

$

(1,074,562

)