Presented below is information related to Pronghorn Company.

Cost Retail Beginning inventory $ 54,510 $96,300 Purchases (net) 122,230 194,700 Net markups 9,740 Net markdowns 25,731 Sales revenue 203,890

Compute the ending inventory at retail. Ending inventory $

Compute a cost-to-retail percentage under the following conditions. (Round ratios to 2 decimal places, e.g. 78.74%) Cost-to-retail percentage (1) Excluding both markups and markdowns. % (2) Excluding markups but including markdowns. % (3) Excluding markdowns but including markups. % (4) Including both markdowns and markups. %

Which of the methods in (b) above does the following? (1) Provides the most conservative estimate of ending inventory. (2) Provides an approximation of lower-of-cost-or-market. (3) Is used in the conventional retail method. (Answers included in drop-down boxes: Excluding both markups and markdowns, excluding markdowns but including markups, excluding markups but including markdowns & including both markdowns and markups.)

Compute ending inventory at lower-of-cost-or-market. (Round ratio to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.g. 6,225.) Ending inventory $

Compute cost of goods sold based on (d). (Round answer to 0 decimal places, e.g. 6,225.) Cost of goods sold $

Compute gross margin based on (d). (Round answer to 0 decimal places, e.g. 6,225.) Gross margin $

On July 1, 2017, Headland Construction Company Inc. contracted to build an office building for Gumbel Corp. for a total contract price of $1,890,000. On July 1, Headland estimated that it would take between 2 and 3 years to complete the building. On December 31, 2019, the building was deemed substantially completed. Following are accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Gumbel for 2017, 2018, and 2019.

(a) Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2017, 2018, and 2019. (Ignore income taxes.) (If answer is 0, please enter 0. Do not leave any field blank. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

In 2020 Coco Corporation signed a contract to construct a major office building for a developer.  The construction is expected to take 3 years.  The contract price is $50 million.  The actual costs incurred each year, the estimated costs of completing the project as of the end of each year, the progress billings for each year, and the collections of those billings each year are presented in the chart below.

1. Prepare, in good, easy-to-follow form, a schedule computing the amount of revenues or gross profit (your choice) to be recognized on this project in each year using the percentage-of-completion.
2. Prepare all the journal entries required in 2021 by the information provided.
3. Explain, precisely, the amounts to be reported in the 2020 income statement and the December 31, 2017 balance sheet for this contract.

Real Estate

1. What are the four criteria for Highest & Best Use?

A) Legally permissible, physically possible, financially feasible and maximumly productive.

B) Legally permissible, physically possible, financially feasible and minimally impactful on the environment.

C) Bulk Density Limit, Height Restrictive, Landmark accessible, and Usage Specified.

D) Tall, Qualitative Construction, Useful to the Community, and Impactful

2. Regarding Property Setups, they may show basic property data, including all of the following, EXCEPT:

(A) Gross Rent and/or Gross Revenue

(B) Asbestos found in its Roof Tiles

(C) Lot Square Feet

D) Real Estate Taxes

3) A Lease in which the retail tenant pays the base rent and all of the operating expenses of the property is referred to as a:

A. gross lease.

B. percentage lease.

C. triple-net lease.

D. graduated lease.

4. Stabilized NOI on an apartment building is $10 million. The cap rate is 8%. What is the value of the building?

A. $250 million B. $125 million C. $8 million D. $0.8 million

On July 1, 2017, Torvill Construction Company Inc. contracted to build an office building for Gumbel Corp. for a total contract price of $1,900,000. On July 1, Torvill estimated that it would take between 2 and 3 years to complete the building. On December 31, 2019, the building was deemed substantially completed. Following are accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Gumbel for 2017, 2018, and 2019. At 12/31/17 At 12/31/18 At 12/31/19 Contract costs incurred to date $  300,000 $1,200,000 $2,100,000 Estimated costs to complete the contract  1,200,000    800,000 -0- Billings to Gumbel    300,000  1,100,000  1,850,000 Instructions (a) Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2017, 2018, and 2019. (Ignore income taxes.) (b) Using the completed-contract method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2017, 2018, and 2019. (Ignore income taxes.)

On July 1, 2017, Torvill Construction Company Inc. contracted to build an office building for Gumbel Corp. for a total contract price of $1,900,000. On July 1, Torvill estimated that it would take between 2 and 3 years to complete the building. On December 31, 2019, the building was deemed substantially completed. Following are accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Gumbel for 2017, 2018, and 2019. At 12/31/17 At 12/31/18 At 12/31/19 Contract costs incurred to date $  300,000 $1,200,000 $2,100,000 Estimated costs to complete the contract  1,200,000    800,000 -0- Billings to Gumbel    300,000  1,100,000  1,850,000 Instructions (a) Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2017, 2018, and 2019. (Ignore income taxes.) (b) Using the completed-contract method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2017, 2018, and 2019. (Ignore income taxes.)

Australian Taxation

Abby runs a printing business and leases a building for which she pays rent of $75,000 per annum. During the year ended 30 June 2020, Abby incurred the following expenses: Painting of the exterior of the building at a cost of $12,000. The original paintwork was peeling and mouldy and did not represent the kind of look Abby wanted for her business. Re-surfacing of the dirt car park with a new non-slip cement to fill in pot-holes and create a safer environment for her customers $8,000 Replace torn awning over the front door for $1,500. The replacement awning was made of the same material as the original awning. Payment of $22,000 for a commercial embroidery machine so that Abby could introduce clothing design and printing into her business. The machine was purchased on 10 February 2020 and installed on 26 February 2020. Advise Abby if the expenses would be deductible with reference to relevant statute or other supporting documents.

Show that electrons in states near the conduction band minimum behave as free electrons with an 'effective mass' m. (Hint: Expand the dispersion relation E(k) locally into a Taylor series)