On December 31, 2012, Mass Construction Inc. signs a contract with the state of Massachusetts Department of Transportation to manufacture a bridge over the Merrimack. Mass Construction anticipates the construction will take three years. The company's accountants provide the following contract details relating to the project:
Contract price $520 million
Estimated construction costs $300 million
Estimated total profit $220 million
During the three-year construction period, Tri-State incurred costs as follows:
2013 $ 30 million
2014 $180 million
2015 $ 90 million
Tri-State uses the percentage of completion method to recognize revenue. Which of the following represent the revenue recognized in 2013, 2014, and 2015?
A. $52 million, $312 million, $156 million
B. $12 million, $72 million, $36 million
C. $140 million, $140 million, $140 million
D. $30 million, $180 million, $90 million
E. None of the above
Answers
Answer: A. $52 million, $312 million, $156 million
Explanation:
The percentage of the total cost incurred in a year is the percentage of revenue to recognize in that year.
2013 Revenue;
= (30/ 300) * 520
= $52 million
2014 Revenue;
= (180/300) * 520
= $312 million
2015
= (90/300) * 520
= $156 million
Related Questions
express 75 kobo as a decimal of 1 naira 50 kobo
Answers
A company's Income Tax Payable account decreased from $14 million to $12 million during the year. If its income tax expense was $80 million, what would be shown as cash paid for income taxes under the direct method?
A cash outflow of $12 million.
A cash outflow of $78 million.
A cash outflow of $80 million.
A cash outflow of $82 million.
Answers
Answer:
A cash outflow of $82 million is correct answer
Explanation:
Options:
A cash outflow of $12 million.
A cash outflow of $78 million.
A cash outflow of $80 million.
A cash outflow of $82 million.
(Hope this helps can I pls have brainlist (crown)
Answer:
A cash outflow of $82 million
Explanation:
$14 million + 80 million - x = $12 million. x = $82 million.
Hope this helps, have a nice day/night! :D
This is economics question
Answers
Answer:
I think "A & B are correct."
Explanation:
Risk*
On February 1, Alan, a single individual, purchased his first personal residence for $400,000. On July 1, Alan sold this residence for $460,000 because he accepted a new job in another state. Consequently, Alan occupied the home for only 150 days. How much gain must Alan recognize
Answers
Answer:
Recognized gain = $60000
Explanation:
Below is the calculation:
Price of personal resident = $400000
Selling price = $460000
Since Alan purchased the house for $400000 and selling it for $460000. Therefore recognized gain can be determined by subtracting the purchase price from the selling price.
Recognized gain = $460000 - $400000
Recognized gain = $60000
What was the overall response to Cornett’s plan to put his city on a diet, both locally and nationwide? What were some things that occurred as a result of the coverage and his website.
Answers
Mayor Cornett's initiative was well received nationally and locally because he cared for the public health of citizens in an innovative way.
Who is Michael Cornett?Michael Cornett (1958) is an American politician who served as the mayor of Oklahoma City between 2005 and 2018.
During his tenure, he had an innovative and unconventional initiative that he called This City Is Going On A Diet with which he sought to establish guidelines for good nutrition and a healthy lifestyle to reduce obesity rates in the city.
In general, this initiative was well received by the inhabitants of the city who joined efforts to lose weight. Additionally, this had a positive impact at the national level since the president's wife extolled her positive work for the health of citizens.
In this program, he founded a help website for people who were interested in getting professional weight loss support. There they found healthy food options, tips and other pertinent information to help them lose weight.
Learn more about Oklahoma in: https://brainly.com/question/7482640?referrer=searchResults
Look at the graph. Does zone A represent the result of a price ceiling or price floor, and which scenario is an example of these conditions?
O A price ceiling and the excess butter sitting in European warehouses due to overproduction by farmers
O A price ceiling and the scarcity of food and other goods in Cuba, resulting in smuggling and black-market trading
O A price floor and the lack of construction materials in Venezuela due to exporting them for higher prices
O A price floor and the large amount of corn stored in silos in the U.S. Midwest due to overproduction by farmers
Answers
Answer:
the answer is: A price floor and the large amount of corn stored in silos in the U.S. Midwest due to overproduction by farmers
Question 1 of 10
Malika defaulted on the equipment loan for her hair salon. What type of
remedy would the bank would most likely seek?
Answers
Answer: An attachment
Explanation: ap3x:)
Answer: attachment
Explanation:
A pex just took quiz
Debra is the purchase assistant. She bought a hard drive for the company's IT department . The accountant asked for a receipt for the purchase. Which accounting principle is the accountant complying with?
Answers
Answer:
objectivity
Explanation:
I got it right on the test
Answer:
objectivity
Explanation:
trust me
ex 3-4, ex 8
solution with explanation
Answers
The total present value based on the information will be PV1 + PV2
How to calculate the value
To compare different operations, we need to calculate their present values using the given interest rate of 0.03 (3%).
A) 100 at 1 year and 100 at 2 years:
The present value of receiving 100 at 1 year is calculated as:
PV1 = 100 / (1 + 0.03)^1 = 100 / 1.03
The present value of receiving 100 at 2 years is calculated as:
PV2 = 100 / (1 + 0.03)² = 100 / 1.0609
Total present value = PV1 + PV2
B) 0 now and 200 at 4 years:
The present value of receiving 200 at 4 years is calculated as:
PV = 200 / (1 + 0.03)^4 = 200 / 1.1255
C) 50 now, 50 at 1 year, and 50 at 2 years:
The present value of receiving 50 now is 50.
The present value of receiving 50 at 1 year is calculated as:
PV1 = 50 / (1 + 0.03) = 50 / 1.03
The present value of receiving 50 at 2 years is calculated as:
PV2 = 50 / (1 + 0.03)² = 50 / 1.0609
Total present value = PV + PV1 + PV2
Let's calculate the amount at the end of 9 years:
Amount after 3 years = 10,000 * (1 + 0.05)^3
Amount after 9 years = Amount after 3 years * (1 + 0.07)^6
To calculate the present value of this capital in t = 1 (after 9 years) using an interest rate of 6%, we need to discount the amount back to the present value.
Present value = Amount after 9 years / (1 + 0.06)^8
The interest rate is the cost of borrowing or the return on investment. It represents the percentage increase or decrease in the value of an investment over time.
The yield depends on various factors, including the type of investment, the prevailing interest rates, the level of risk associated with the investment, and the performance of the underlying assets.
Learn more about present value on
https://brainly.com/question/30390056
#SPJ1
HELP ME PLEASE
The following transactions and
events have occurred during March 2022 in ABC Company
1 The company issued shares in exchange for $400,000 cash.
2 Borrowed $150,000 from a Local Bank payable in 1 year. (Interest is = 12% annually)
Purchased a machine for $100,000, paying $50,000 cash, and the rest will be paid later.
3 (Depreciates at a rate of $10,000 per month.)
4 Billed customers $80,000 for services performed.
5 Purchased in cash $4,500 of supplies. (Only $500 remained by the end of the month)
Received $4,800 cash in advance from customers for services to be performed in three
6 months.
7 Paid Dividends of $4,000 in cash.
Required:
1. Analyze each of the transactions in terms of its effect on the accounting equation elements. 2. Prepare the necessary journal entries for the month and post to the Ledger.
3. Prepare the Trial Balance.
4. Prepare and post the necessary adjusting entries.
5. Prepare the Adjusted Trial Balance.
6. Prepare the Income statement, Retaining Earnings statement, and Statement of financial Position.
7. Prepare and post the closing entries.
8. Prepare the Post-Closing Trial Balance.
Answers
Answer:
d
Explanation:is wrong i got it wrong on edg
a company must accrue for estimated future returns at the end of the period in which the related sales revenue is recognized.
Answers
A company must accrue for estimated future returns at the end of the period in which the related sales revenue is recognized --- True
What does sales mean?
Income is income from products and services before deduction of costs. It is typically calculated over a defined period of time, such as a fiscal year or quarter. From an accounting perspective, turnover is a component of a company's turnover. In the income statement, turnover is usually called gross turnover. Companies can also report net sales. This is the result of subtracting returns from gross sales.
Why Sales Revenue Matter ?Revenue is the first metric reported on the income statement. There are good reasons for this. This represents the starting point for a company to determine its net profit.
Learn more about sales revenue :
brainly.com/question/29436143
#SPJ4
Identify the stage of the new product development based on the given scenario.
Sam has designed a new revolutionary product for his company. Right now, he and his team members are evaluating the total cost involved in producing the product, the profit margin, and the manufacturing costs.
The stage of new product development that they are involved in right now is____.
Answers
Answer:
Business analysis
Explanation:
edmentum
how will you react to the following destroying or removing information that could hurt your company if it fell into the wrong hands.
Answers
I will say it is crucial to prioritize ethical behavior and transparency. Instead of destroying or removing information, we should focus on implementing robust security measures to safeguard sensitive data.
How can we protect sensitive information from unauthorized access?Protecting sensitive information from unauthorized access is essential for companies to maintain trust with their stakeholders. Instead of resorting to destroying or removing information, it is more beneficial to invest in robust security measures.
By implementing strong encryption, access controls, and regular security audits, we will significantly reduce the risk of sensitive data falling into the wrong hands. Also, fostering a culture of responsible data handling and training employees on best security practices can further enhance the overall protection of company information.
Read more about Confidentiality
brainly.com/question/29417102
#SPJ1
A ___ is a tax on imported goods. A ___ is a quantitative restriction on imported goods.
Cost,subsidy
Regulation, standard
Tariff,quota
Answers
Magic Realm, Inc., has developed a new fantasy board game. The company sold 8,400 games last year at a selling price of $70 per game. Fixed expenses associated with the game total $84,000 per year, and variable expenses are $50 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 10,416 games next year (an increase of 2,016 games, or 24%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year
Answers
Answer:
1-a. Net operating income = $84,000
1-b. Degree of operating leverage = 2.00
2-a. Expected percentage increase in net operating income for next year = 48%
2-b. Expected amount of net operating income for next year = $124,320
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
Magic Realm, Inc., has developed a new fantasy board game. The company sold 8,400 games last year at a selling price of $70 per game. Fixed expenses associated with the game total $84,000 per year, and variable expenses are $50 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 10,416 games next year (an increase of 2,016 games, or 24%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year? b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer.)
The explanation of the answers is now given as follows:
1-a. Prepare a contribution format income statement for the game last year.
The contribution format income statement for the game last year can be prepared as follows:
Magic Realm, Inc.
Contribution Income Statement For the Game
For Last Year
Particulars Amount ($) Per Unit ($)
Sales (8,400 * $70) 588,000 70
Variable cost (8,400 * $50) (420,000) (50)
Contribution margin 168,000 20
Fixed cost (84,000)
Net operating income 84,000
1-b. Compute the degree of operating leverage.
Degree of operating leverage = Contribution margin / Net operating income = $168,000 / $84,000 = 2.00
2-a. What is the expected percentage increase in net operating income for next year?
This can be calculated as follows:
Expected percentage increase in net operating income for next year = Degree of operating leverage * Expected percentage increase in sales = 2 * 24% = 48%
2-b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer.)
Expected amount of net operating income for next year = Last year's net operating income + (Last year's net operating income * Expected percentage increase in net operating income for next year) = $84,000 + ($84,000 * 48%) = $84,000 + $40,320 = $124,320
What are the basics of consideration?
Answers
The basics of consideration include the following elements:
Legal SufficiencyBargained for exchange. What is consideration?Consideration is a promise to act, exchange, or do something which the law does not obligate but an agreement creates.
For something to be regarded as a consideration, it must have legal value and form part of the exchange contract.
Thus, a thing or action does not qualify as a consideration if it lacks legal value (legal sufficiency) or does not form part of the contract (bargained for exchange).
Learn more about consideration at https://brainly.com/question/1030295
two ways in which best bank can adapt to the challenges of the macro environment
Answers
Answer:
Mergers or Information Management
Explanation:
Mergers-In order to respond to certain challenges, businesses may choose to merge with another business. The new business will have a larger market share than either of the original businesses did.
Information management -All changes lead to new information that needs to be distributed to all the relevant parties.
Information must be managed efficiently and a system must be in place so that the relevant staff can easily access it.
Information must be protected and kept secure to protect the company's intellectual property.
Why is the soda market considered an oligopoly?
For economics need ASAP
Answers
Answer:
The industry is considered an oligopoly because the firms in this industry produce products that are differentiated. The competition depends on the way the brand of the firms market their products.
Hopefully this helped! :D
-LavenderVye
12. Paid Office Station Co. for part of the debt incurred on April 5, $1,200. 12. Provided services on account, $4,200.
Answers
1. Paid Office Station Co. for part of the debt incurred on April 5, $1,200.
Debit: Accounts Payable - Office Station Co.$1,200
Credit: Cash $1,200
2. Provided services on account, $4,200.
Debit: Accounts Receivable $4,200
Credit: Service Revenue $4,200
To pay off the remaining balance owing to Office Station Co., a debit is sent to the accounts payable account. To account for the cash outflow, the Cash account is credited. This journal entry records the settlement of a portion of the debt incurred on April 5 with Office Station Co.
The acknowledgment of revenue for services rendered to a client on the account is represented by this journal entry. To reflect the increase in the amount due by the client, the Accounts Receivable account is debited.
Learn more about Journal entry, here:
https://brainly.com/question/20421012
#SPJ1
The complete question is probably
Write journal entries
12. Paid Office Station Co. for part of the debt incurred on April 5, $1,200. 12. Provided services on account, $4,200.
What is an organization that uses resources to produce a product which
then sells called?
household
competition
private property
Answers
Answer:
A business or firm is an organization that uses resources to produce a product which it then sells.
One major difference between a single-price monopolist (SPM) and a perfect price discrimination monopolist (PPDM) is that: OPPDM generates a deadweight loss whereas SPM does not SPM generates a deadweight loss whereas PPDM does not. OPPDM yields positive economic profits whereas SPM does not SPM generates excess supply whereas PPDM does not.
Answers
The correct answer to your question is that one major difference between a single-price monopolist (SPM) and a perfect price discrimination monopolist (PPDM) is that OPPDM generates a deadweight loss whereas SPM does not.
This is because perfect price discrimination allows the monopolist to charge each individual customer their maximum willingness to pay, resulting in no consumer surplus and therefore no deadweight loss. However, in a single-price monopolist situation, the monopolist charges a single price to all customers which results in some customers being priced out of the market and therefore a deadweight loss. It is important to note that while PPDM does not generate a deadweight loss, it does still result in a transfer of surplus from consumers to the monopolist and positive economic profits for the monopolist. One major difference between a single-price monopolist (SPM) and a perfect price discrimination monopolist (PPDM) is that:
SPM generates a deadweight loss whereas PPDM does not.
In a single-price monopolist scenario, the monopolist sets a single price for all consumers, leading to a reduction in consumer surplus and the creation of a deadweight loss. This deadweight loss is the result of the inefficiency caused by the monopolist's pricing strategy.
In contrast, a perfect price discrimination monopolist is able to charge each consumer the maximum price they are willing to pay for the product or service. This means that the monopolist is able to capture all of the consumer surplus, effectively eliminating the deadweight loss. Additionally, this strategy allows the PPDM to yield positive economic profits.
Learn more PPDM here: brainly.com/question/17317896
#SPJ11
True or false: Efficiency within pure competition can be temporarily disrupted by a change in consumer tastes.
Answers
It should be noted that efficiency within pure competition can be temporarily disrupted by a change in consumer tastes. Therefore, it's true.
What is competition?It should be noted that competition is important in marketplace as it acts as a regulating force.
In this case, efficiency within pure competition can be temporarily disrupted by a change in consumer tastes.
Therefore, the statement is true.
Learn more about competition on:
https://brainly.com/question/967467
What is wrong with this sentence? The report applies to western Europe, where people are interested in these exports.
Answers
The issue with the sentence is that : The sentence is grammatically correct, but it is unclear what "these exports" refer to
What is wrong with this sentence?The sentence is grammatically correct, but it is unclear what "these exports" refer to. To improve clarity, the sentence should be revised to provide more context or specificity about the exports in question.
For example: "The report applies to western Europe, where people are interested in buying cars from Japanese manufacturers."
Read more on exports.https://brainly.com/question/29551836
#SPJ1
What is a bushiness opportunity?
Answers
Answer: You said it yourself, an opportunity.
Explanation:
A business opportunity is often used to describe a way for a business to make more money. It can also mean many other things such as hiring more employees, creating more roles, partnering with another company, etcetera.
But mainly used to make more money.Can you think of other ways ethics and corporate social responsibility information could be communicated in an engaging way?
Answers
An objective tone that isn't overly self-congratulatory or promotional is the best strategy for CSR communications. In your communications, be sincere and fair. That entails spreading more than simply good news.
What ethical and socially responsible practices do firms display?A firm can embrace social responsibility in a number of ways, including giving, encouraging volunteerism, using ethical hiring procedures, and making changes to the environment. For instance, businesses trying to minimize their environmental impact would try to cut back on waste and carbon emissions.
How are business ethics and corporate social responsibility related?Therefore, corporate social responsibility (CSR) is more focused on the corporation (or organization) and its obligations and behavior to other stakeholders in the larger social system, as opposed to business ethics, which is more focused on the role and responsibilities of managers and employees as business agents.
To Know more about social responsibility
https://brainly.com/question/13528806
#SPJ1
The CEO is interested in learning more about probability and how it works. The CEO is also asking about how probability and analytics can be integrated into the business model. In the process of looking for information on probability, you find that it is important to understand optimization and forecasting and how they can be applied to benefit the business. Do some research and present the results for the CEO. The following is the necessary information to complete this lab assignment. Deliverables Step 2: Probability Research • Considering the CEO's request, you determine that some research needs to take place. • Define the following terms for the CEO and locate some chart examples of each type of analysis. o Probability o Optimization o Forecasting Step 3: Integrating Data Research for Business • In one to two paragraphs, discuss what role probability and statistics play in business decisions. • In one to two paragraphs, discuss any ethical considerations when doing probability. • Summarize by explaining why probability is a good method for the CEO to consider.
Answers
Step 2: Probability Research Probability, Optimization, Forecasting.
Step 3: Integrating Data Research for Business.
Probability:
Probability is a branch of mathematics that deals with the likelihood of events occurring. It is a measure of uncertainty and is expressed as a number between 0 and 1, where 0 represents impossibility and 1 represents certainty.
Optimization:
Optimization involves finding the best possible solution from a set of alternatives. It aims to maximize desired outcomes or minimize undesirable ones, considering constraints and objectives.
Forecasting:
Forecasting is the process of predicting future events or outcomes based on historical data and statistical models. It helps businesses anticipate demand patterns, market trends, and other factors that can influence decision-making.
Step 3: Integrating Data Research for Business
Probability and statistics play a crucial role in business decisions. They provide a framework for analyzing and interpreting data, assessing risks, making predictions, and supporting evidence-based decision-making.
When working with probability, ethical considerations are important. It is essential to ensure that data used in probability analysis is collected ethically, respects privacy and confidentiality, and adheres to relevant legal and regulatory requirements.
Probability is a valuable method for the CEO to consider because it provides a systematic and quantitative approach to analyzing uncertainty and making informed decisions.
By integrating probability into the business model, the CEO can better understand risks, optimize resource allocation, improve forecasting accuracy, and ultimately enhance strategic decision-making and business performance.
For more such questiosn on Optimization visit:
https://brainly.com/question/28166893
#SPJ8
The shop floor manager in a dairy company believes that the milk packaging process unit for one-liter packs is not working fine (the quantity of milk is not 1 liter in all the packages) and needs calibration. The manager wants to validate whether the average quantity of milk in a one-liter pack is different from 1 liter. He frames the null hypothesis as
LaTeX: H_0: \mu = 1, where LaTeX: \mu is the mean quantity of milk in one-liter packs.
What would be the alternative hypothesis to test that the mean quantity is different from 1 liter?
Answers
The alternative hypothesis that would be used to test the mean quantity is different from 1 liter is u ≠ 1.
What is alternative hypothesis?An assertion used in statistical inference experiments is known as the alternative hypothesis. It is contradictory to the null hypothesis and denoted by Ha or H1
An alternative hypothesis is one in which the researchers anticipate a difference (or an effect) between two or more variables; thus, the observed pattern of the data is not the result of chance.
Given that the claim in the null us that u = 1. The alternative would be that u is not equal to 1.
Read more on hypothesis here: https://brainly.com/question/606806
#SPJ1
The value of which of these expressions is closest to e?
Answers
Answer: B
Explanation:
Therefor, value 2.659 is closest to the value of e
( I hope this helped of not I’m sorry)
Which statement BEST matches the image. Cannot be used more than once. < < soda soda soda 个 orange juice • A orange juice • A orange juice A 1. Inefficient / Underutilization 2. Impossible / Unobtainable Technological advances in production 3. 4. Efficient Production
Answers
We can see here that the statement that best matches the image is Inefficient production / Underutilization.
What is inefficient production?Inefficient production refers to a situation where resources are not utilized optimally or where the production process does not achieve the highest possible output given the available resources and technology. It implies that the production process is not operating at its maximum efficiency or effectiveness.
Addressing inefficiencies in production is crucial for organizations to enhance productivity, reduce costs, improve competitiveness, and maximize their output.
Learn more about inefficient production on https://brainly.com/question/28701189
#SPJ1
Which of the following statement is TRUE?
(1 Point)
Developmental programs improve conceptual skills of managers for the future job.
Training programs improve conceptual skills of nonmanagers for the future job.
Developmental programs improve technical skills of nonmanagers for the current job.
Training programs improve technical skills of mangers for the current job.
Answers
'Developmental programs improve conceptual skills of managers for the future job' is true. The right answer is a.
The goals and content of training and development are different from one another. While "development" refers to a long-term method through which managerial personnel understand conceptual and theoretical knowledge for broad reasons, "training" is a short-term process through which non-managerial personnel acquire technical knowledge and skills for a specific purpose.
Development covers the process through which managers and executives build capacity for both future managing roles as well as skills and competence for their current ones.
The correct answer is option a.
Know more about conceptual skills here
https://brainly.com/question/30691677
#SPJ1