Duos Technologies Group, Inc. General form of registration statement for all companies including face-amount certificate companies

CONTRACT ACCOUNTING (Tables)

12 Months Ended

Dec. 31, 2020

At December 31, 2020 and 2019, contract assets on uncompleted contracts consisted of the following:


	2020			2019
Costs and estimated earnings recognized	$	4,152,850		$	3,700,124
Less: Billings or cash received		(4,050,392	)		(2,324,204	)
Contract Assets	$	102,458		$	1,375,920

At December 31, 2020 and 2019, contract liabilities on uncompleted contracts consisted of the following:


	2020			2019
Billings and/or cash receipts on uncompleted contracts	$	2,978,007		$	35,665
Less: Costs and estimated earnings recognized		(2,268,454	)		(27,004	)
Contract Liabilities	$	709,553		$	8,661