On February 1, 2018, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,570,000. During 2018, costs of $2,190,000 were incurred with estimated costs of $4,190,000 yet to be incurred. Billings of $2,690,000 were sent, and cash collected was $2,440,000. In 2019, costs incurred were $2,690,000 with remaining costs estimated to be $3,885,000. 2019 billings were $2,940,000 and $2,665,000 cash was collected. The project was completed in 2020 after additional costs of $3,990,000 were incurred. The company’s fiscal year-end is December 31. Arrow recognizes revenue over time according to percentage of completion. Required: 1. Compute the amount of revenue and gross profit or loss to be recognized in 2018, 2019, and 2020 using the percentage of completion method? 2a. Prepare journal entries for 2018 to record the transactions described (credit "various accounts" for construction costs incurred). 2b. Prepare journal entries for 2019 to record the transactions described (credit "various accounts" for construction costs incurred). 3a. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2018. 3b. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2019.

On March 17, 2020, Union Corporation purchased 500 bonds of AZQ as a long-term investment at $400 per bond. On December 31, 2020, and December 31, 2021, the market value of the AZQ bonds is $420 and $430, respectively.

Required: (1.) What is the appropriate reporting category for this investment? Why? (2.) Prepare the adjusting entry on December 31, 2020. (3.) Prepare the adjusting entry on December 31, 2021.

Throughout 2020, Moon Ltd. had 1,200,000 common shares outstanding. As well, the corporation paid $300,000 in preferred dividends and reported net income of $5,100,000 for 2020. In connection with the acquisition of a subsidiary company in June 2019, Moon is required to issue 50,000 additional common shares on July 1, 2021, to the former owners of the subsidiary.

Moon’s diluted earnings per share for 2020 should be:

. On January 3, 2020, Hanna Corp signed a lease on a machine and the lease commences the same date. The lease requires Hanna too make six annual lease payments of $12000 with the first payment due on December 31, 2020. Hanna could have financed the machine by borrowing at an interest rate of 7%. What entries would the company record on Jan 3 and December 31, 2020 if the lease is classified as a finance lease?

32. Nabors Finance Company reported equipment with an original cost of $379,000 and $344,000 and accumulated depreciation of $153,000 and $128,000, respectively in its financial statements for years ended December 31, 2020 and 2019. During 2020, Nabors purchased equipment costing $50,000 and sold equipment with carrying amount of $9,000. What amount should Nabors report as depreciation expense for 2020?

a. $19,000 c. $31,000 b. $25,000 d. $34,000

Daniel J Company uses a job-order costing system and started the month of
March with three jobs in process. The cost of beginning work in process
plus the costs added during March are shown below:

                                   Job #1        Job #2        Job #3
beginning work in process .....    $4,930        $4,970        $2,840

COSTS ADDED DURING MARCH:
direct materials ..............    $3,400        $4,200        $4,600
direct labor ..................    $5,000        $4,000           ?

Daniel J applies overhead to jobs based on a percentage of direct materials
used. During March, Daniel J completed both Job #2 and Job #3. Job #1 was
not completed by the end of March. Job #2 consisted of 1,700 units; some
of these units were sold during March. None of the units from Job #3 were
sold in March. Daniel J Company's accounting records for March disclosed
the following information:

Work in process inventory balance at March 31 ..........  $15,880
Actual overhead cost for the month of March ............  $ 8,500
Cost of goods sold for March ...........................  $11,830
Finished goods inventory balance at March 31 ...........  $18,870

The cost of goods sold number above represents the cost of goods sold for
March after the overhead variance has been closed for March.

Calculate the number of units from Job #2 that were sold during March.
Simply enter your answer as a number. Do not type the word units after
your answer.

Johnson Company uses a job-order costing system and started the month of
March with three jobs in process. The cost of beginning work in process
plus the costs added during March are shown below:

                                   Job #1        Job #2        Job #3
beginning work in process .....    $4,930        $4,970        $2,840

COSTS ADDED DURING MARCH:
direct materials ..............    $3,400        $4,200        $4,600
direct labor ..................    $5,000        $4,000           ?

Johnson applies overhead to jobs based on a percentage of direct materials
used. During March, Johnson completed both Job #2 and Job #3. Job #1 was
not completed by the end of March. Job #2 consisted of 1,700 units; some
of these units were sold during March. None of the units from Job #3 were
sold in March. Johnson Company's accounting records for March disclosed
the following information:

Work in process inventory balance at March 31 ..........  $15,880
Actual overhead cost for the month of March ............  $ 8,500
Cost of goods sold for March ...........................  $11,830
Finished goods inventory balance at March 31 ...........  $18,870

The cost of goods sold number above represents the cost of goods sold for
March after the overhead variance has been closed for March.

Calculate the number of units from Job #2 that were sold during March.
Simply enter your answer as a number. Do not type the word units after
your answer.

Johnson Company uses a job-order costing system and started the month of
March with three jobs in process. The cost of beginning work in process
plus the costs added during March are shown below:

                                   Job #1        Job #2        Job #3
beginning work in process .....    $4,930        $4,970        $2,840

COSTS ADDED DURING MARCH:
direct materials ..............    $3,400        $4,200        $4,600
direct labor ..................    $5,000        $4,000           ?

Johnson applies overhead to jobs based on a percentage of direct materials
used. During March, Johnson completed both Job #2 and Job #3. Job #1 was
not completed by the end of March. Job #2 consisted of 1,700 units; some
of these units were sold during March. None of the units from Job #3 were
sold in March. Johnson Company's accounting records for March disclosed
the following information:

Work in process inventory balance at March 31 ..........  $15,880
Actual overhead cost for the month of March ............  $ 8,500
Cost of goods sold for March ...........................  $11,830
Finished goods inventory balance at March 31 ...........  $18,870

The cost of goods sold number above represents the cost of goods sold for
March after the overhead variance has been closed for March.

Calculate the number of units from Job #2 that were sold during March.
Simply enter your answer as a number. Do not type the word units after
your answer.

Johnson Company uses a job-order costing system and started the month of
March with three jobs in process. The cost of beginning work in process
plus the costs added during March are shown below:

                                   Job #1        Job #2        Job #3
beginning work in process .....    $4,930        $4,970        $2,840

COSTS ADDED DURING MARCH:
direct materials ..............    $3,400        $4,200        $4,600
direct labor ..................    $5,000        $4,000           ?

Johnson applies overhead to jobs based on a percentage of direct materials
used. During March, Johnson completed both Job #2 and Job #3. Job #1 was
not completed by the end of March. Job #2 consisted of 1,700 units; some
of these units were sold during March. None of the units from Job #3 were
sold in March. Johnson Company's accounting records for March disclosed
the following information:

Work in process inventory balance at March 31 ..........  $15,880
Actual overhead cost for the month of March ............  $ 8,500
Cost of goods sold for March ...........................  $11,830
Finished goods inventory balance at March 31 ...........  $18,870

The cost of goods sold number above represents the cost of goods sold for
March after the overhead variance has been closed for March.

Calculate the number of units from Job #2 that were sold during March.
Simply enter your answer as a number. Do not type the word units after
your answer.

6.) In the 1952 Hershey-Chase experiment showed that DNA is the genetic material of bacteriophage. Explain where the protein labeled with 35S ended up and where the DNA labeled with 32P ended up after centrifugation in their experiment. a. Draw a diagram of the experiment in support of your explanation. b. Is it possible to do the reverse labeling? (protein labeled with 32P and DNA is labeled with 35S) Why or why not?

7.) For each base-pair set, state if the two pairs are distinguishable using the minor groove, the major groove, or both. a. G:C vs. C:G ________ b. A:T vs. G:C _________

c. A:T vs. T:A _________

8.) Ethidum bromide (EtBr) is a large flat, multiringed cation. Its flat shape allows it to insert itself between the stacked base pairs of double stranded (dsDNA). Because it fluoresces when exposed to UV light and because its fluorescence increases dramatically after intercalation, it is used as a stain to visualize DNA. When ethidium intercalates it causes the DNA to unwind by about 26 degrees, reducing the normal rotation per base pair, decreasing the twist (T) of the DNA.

a. What effect would this change have on the writhe (W) of the plasmid?

b. When EtBr is used to visualize a relaxed covalently closed circular plasmid by gel electrophoresis, what effect would this have on the migration of the plasmid?