Boomerang Systems, Inc. | 2013 | FY | 3

NOTE 6 – COSTS IN EXCESS OF BILLINGS/BILLINGS IN EXCESS OF COSTS
 
Information with respect to uncompleted contracts at September 30, 2013 and 2012 are as follows:
 
Costs in excess of billings:
 
2013
 
2012
 
Earnings on billings to date
 
$
2,298,030
 
$
2,059,919
 
Less: Billings
 
 
(1,917,400)
 
 
(1,584,265)
 
Total costs in excess of billings
 
$
380,630
 
$
475,654
 
 
Billings in excess of costs:
 
2013
 
2012
 
Earnings on billings to date
 
$
-
 
$
1,190,853
 
Less: Billings
 
 
-
 
 
(1,196,000)
 
Total (billings in excess of costs)
 
$
-
 
$
(5,147)
 

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