GOLDFIELD CORP | 2013 | FY | 3


Long-term fixed price electrical construction contracts in progress accounted for using the percentage-of-completion method at December 31 for the years as indicated:
 
2013
 
2012
Costs incurred on uncompleted contracts
$
31,133,132

 
$
29,193,963

Estimated earnings
9,372,782

 
14,555,825

 
40,505,914

 
43,749,788

Less billings to date
35,570,006

 
36,712,296

Total
$
4,935,908

 
$
7,037,492

Included in the balance sheets under the following captions
 
 
 
Costs and estimated earnings in excess of billings on uncompleted contracts
$
4,991,754

 
$
7,411,544

Billings in excess of costs and estimated earnings on uncompleted contracts
(55,846
)
 
(374,052
)
Total
$
4,935,908

 
$
7,037,492


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