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DEFERRED COSTS/CONTRACT ASSETS and DEFERRED REVENUE/CONTRACT LIABILITIES (Tables)

9 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

SCHEDULE OF RECONCILIATION OF COST IN EXCESS OF BILLING FOR CONTRACT RECOGNIZED OVER TIME

The following table shows the reconciliation of the costs in excess of billings and billings in excess of costs for contracts recognized over time:

SCHEDULE OF RECONCILIATION OF COST IN EXCESS OF BILLING FOR CONTRACT RECOGNIZED OVER TIME

		As of Mar 31, 2023
Cost incurred on uncompleted contracts		$	65,845
Estimated earnings			210,311
Earned revenue			276,156
Less: billings to date			591,501
Billings in excess of costs, net		$	(315,345	)
Balance Sheet Classification
Contract assets includes, costs and estimated earnings in excess of billings on uncompleted contracts		$	-
Contract liabilities includes, billings in excess of costs and estimated earnings on uncompleted contracts			(315,345	)
Billings in excess of costs, net		$	(315,345	)

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- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

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- References

No definition available.

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