the construction activity for the year-end 31 December 2020, are as follows:
| project | contract price | costs incurred to 31/12/2020 | estimated costs to complete | billing to 31/12/2020 | cash collections to 31/12/2020 |
| AB | $2,000,000 | $600,000 | $1,400,000 | $450,000 | $410,000 |
Required:
1) Prepare a schedule by project, showing clearly the amount of gross profit (loss) of the project before deducting selling, general, and administrative expenses for the year ended 31 December 2020 using the percentage-of-completion method. (based on estimated costs.)
2)Based on the schedule, show the amount of gross profit ( or loss) before selling, general, and administrative expenses for the year ended 31 December 2020, which would be reported if the following method are used:
(I) the cost-recovery method.
(II) The percentage-of-completion method ( based on estimated costs)
3) Prepare all the necessary general journal entries for the project AB for the financial year 2020, using the percentage-of-completion method.
In: Accounting
What are the similarities and differences between GE’s traditional innovation and reverse innovation?
In: Finance
When they first started to conduct business, international ride-sharing companies such as Uber or Lyft relied on new, unfamiliar concepts to develop breakthrough decisions. Drivers use their own cars to transport customers who call or text for a reservation using a credit or debit card. According to the innovation matrix, ride sharing is considered a(n) _______.
Group of answer choices
transformational innovation
adjacent innovation
core innovation
product development strategy
In: Economics
Goldstein's Classical Mechanics has a puzzling few sentences in his discussion of orbits.
Referring to the case of orbit where the energy is low enough for the orbit to be bounded, he says :"This does not necessarily mean that the orbits are closed. All that can be said is that they are bounded, contained between two circles of radii r1 and r2 with turning points always lying on the circles."
Doesn't "bounded" automatically mean "closed"? The object cannot escape from the attractive force and hence returns over and over. At least, that is my understanding of the terms. Wikipedia says "The orbit can be open (so the object never returns) or closed (returning), depending on the total energy (kinetic + potential energy) of the system." But it also says "Orbiting bodies in closed orbits repeat their paths after a constant period of time." So the only way out I see is if a closed orbit is a special case of non-precessing bounded orbit.
In: Physics
You are provided with the following information on four stocks. Assume that the base year is Dec 2010 and all splits take place on this date. That is after close of trading on December 31, 2010. Stock A and B have a 2 for 1 split at the end of trading on December 31, 2010. Use this information to answer the questions listed below.
|
31-Dec-10 |
31-Dec-10 |
31-Dec-11 |
31-Dec-11 |
31-Dec-10 |
Dec-11 |
Split |
|
|
Stock |
Price |
Shares |
Price |
Shares |
MV |
MV |
|
|
A |
$ 150.00 |
10,000 |
$ 50.00 |
20,000 |
$1,500,000 |
$1,000,000 |
2 |
|
B |
$ 50.00 |
4,000 |
$ 35.00 |
8,000 |
$200,000 |
$280,000 |
2 |
|
C |
$ 25.00 |
15,000 |
$ 30.00 |
15,000 |
$375,000 |
$450,000 |
1 |
|
D |
$ 140.00 |
20,000 |
$ 130.00 |
20,000 |
$2,800,000 |
$2,600,000 |
1 |
In: Finance
identify the four criteria of sustaninable competitive advantges for the company and analyze their collective competitive consequences and performance implication of adult beverages
In: Operations Management
What are the major elements of the collective bargaining process? Why has the process become so contentious between management and unions?
In: Operations Management
Define Public goods. Why is it that the provision of public goods is problematic under collective action? (not less than 1000 words)
In: Economics
In: Psychology
*Should causality be assessed before or after evaluating
validity? Why?
*At the completion of a study, a statistical test was performed and a P value of .02 was obtained. State the meaning of this P value. Are these results statistically significant? Why?
In: Statistics and Probability