It happens all the time. Work is slow, so the construction company owner decides to put the crew to work on his own home, or on his mom's house. How this is handled on the accounting side can produce a variety of effects on the company financials.
For the sake of simplicity, let's assume that all the work performed occurs within the company's tax year. Let's further assume that the project was set up as a job and costs were recorded in exactly the same manner as if it were a "real job." In this case "real job" refers to the fact that the cost to produce will be offset by income that...
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