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Barth Construction, Inc. <br /> NOTES TO FINANCIAL STATEMENTS <br /> (See Accountants ' Review Report) <br /> ' September 30, 2002 <br /> ' NOTE E - CONTRACT RECEIVABLES <br /> Contract receivables at September 30, 2002 : <br /> Billed: <br /> Completed contracts $ 67, 822 <br /> Contracts in progress 389019 <br /> ' Retainage 21 .598 <br /> 127 43 <br /> NOTE F - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS <br /> Costs incurred on uncompleted contracts $ 2359219 <br /> ' Estimated earnings 23.614 <br /> 258,853 <br /> Less : billings to date 254.005 <br /> ' 4 828 <br /> Included in the accompanying balance sheet under <br /> the following captions : <br /> ' Costs and estimated earnings in excess of - <br /> billings on uncompleted contracts $ 49828 <br /> Billings in excess of costs and estimated <br /> earnings on uncompleted contracts -- <br /> ' 4828 <br /> NOTE G - RELATED PARTY TRANSACTIONS <br /> The Company entered into a lease agreement with a related party on May 23, 1990, to lease its office facilities <br /> for a period of one year at a monthly rate- of $2,250. This lease has been extended through December 31 , 2003 , <br /> ' with the same terms. The Company paid $27,000 rent to the related party during the year ended September 30, <br /> 2002, <br /> The Company shares certain administrative and overhead costs with a related corporation. The Company <br /> annually reviews such shared costs and bills the related party for its share of those costs. The Company <br /> received $323,835 from the related corporation during the year ended September 30, 2002, for billings of cost <br /> reimbursements. <br /> The Company also receives management and supervision services from a related corporation. During the year <br /> ended September 30, 2002, the Company did not pay the related corporation for such services . <br /> 8 <br />