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NOTE 4 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS AND CUSTOMER ADVANCES | 12 Months Ended
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Jun. 30, 2014
Notes to Financial Statements |
NOTE 4 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS AND CUSTOMER ADVANCES | NOTE 4 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS AND CUSTOMER ADVANCES Information relating to uncompleted contracts as of June 30, 2014 and 2013 is as follows:
|  | As of June 30,
|  | 2014 |  | 2013
Costs incurred on uncompleted contracts |  | $ | 1,884,984 |  |  | $ | 1,482,384 |
Estimated earnings |  |  | 1,745,608 |  |  |  | 1,191,141 |
|  |  | 3,630,592 |  |  |  | 2,673,525 |
Less: Billings to date |  |  | 3,013,000 |  |  |  | 2,370,000 |
|  | $ | 617,592 |  |  | $ | 303,525 |
Included in the accompanying consolidated balance sheets under the following captions:
|  | As of June 30,
|  | 2014 |  | 2013
Costs and estimated earnings in excess of billings on uncompleted contracts |  | $ | 759,809 |  |  | $ | 445,742 |
Less: Billings in excess of costs and estimated earnings on uncompleted contracts |  |  | 142,217 |  |  |  | 142,217 |
|  | $ | 617,592 |  |  | $ | 303,525 |

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