I posted this question before too but answer was wrong can you please make sure the answer is right
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below.]
In 2018, the Westgate Construction Company entered into a contract
to construct a road for Santa Clara County for $10,000,000. The
road was completed in 2020. Information related to the contract is
as follows:
| 2018 | 2019 | 2020 | |||||||
| Cost incurred during the year | $ | 2,204,000 | $ | 3,192,000 | $ | 2,424,400 | |||
| Estimated costs to complete as of year-end | 5,396,000 | 2,204,000 | 0 | ||||||
| Billings during the year | 2,140,000 | 3,256,000 | 4,604,000 | ||||||
| Cash collections during the year | 1,870,000 | 3,200,000 | 4,930,000 | ||||||
Westgate recognizes revenue over time according to percentage of
completion.
rev: 09_15_2017_QC_CS-99734
4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.)
| 2018 | 2019 | 2020 | |||||||
| Cost incurred during the year | $ | 2,204,000 | $ | 3,870,000 | $ | 3,270,000 | |||
| Estimated costs to complete as of year-end | 5,396,000 | 3,170,000 | 0 |
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In: Accounting
provide a short analysis:
What was NTDOY's largest short term gain during 2016-2020?
In: Finance
What happened, as it relates to data-driven marketing and decision making, in the 2016 presidential election? Why?
In: Economics
What are the different hyperlink options in Microsoft Word 2016 and how might you use the options?
In: Computer Science
Explain the impact of property taxes on urban sprawl in your own words, as discussed in Slack (2016
In: Economics
Assess the FASB website. Examine 2014, 2015 and 2016 ASU's. Identify and list the PCC ASU's.
In: Accounting
Note: This problem is for the 2018 tax year.
Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part-time as a paralegal for a law firm.
During 2018, the Deans had the following receipts:
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Wanda was previously married to John Allen. When they divorced several years ago, Wanda was awarded custody of their two children, Penny and Kyle. (Note: Wanda has never issued a Form 8332 waiver.) Under the divorce decree, John was obligated to pay alimony and child support—the alimony payments were to terminate if Wanda remarried.
In July, while going to lunch in downtown Santa Fe, Wanda was injured by a tour bus. As the driver was clearly at fault, the owner of the bus, Roadrunner Touring Company, paid her medical expenses (including a one-week stay in a hospital). To avoid a lawsuit, Roadrunner also transferred $90,000 to her in settlement of the personal injuries she sustained.
The Deans had the following expenditures for 2018:
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The life insurance policy was taken out by Lance several years ago and designates Wanda as the beneficiary. As a part-time employee, Wanda is excluded from coverage under her employer's pension plan. Consequently, she provides for her own retirement with a traditional IRA obtained at a local trust company. Because the mayor is a member of the local Chamber of Commerce, Lance felt compelled to make the political contribution.
The Deans' household includes the following, for whom they provide more than half of the support:
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Penny graduated from high school on May 9, 2018, and is undecided about college. During 2018, she earned $8,500 (placed in a savings account) playing a harp in the lobby of a local hotel. Wayne is Wanda's widower father who died on January 20, 2018. For the past few years, Wayne qualified as a dependent of the Deans.
Federal income tax withheld is $5,200 (Lance) and $2,100 (Wanda). The proper amount of Social Security and Medicare tax was withheld.
Required:
Determine the Federal income tax for 2018 for the Deans on a joint return by providing the following information that would appear on Form 1040 and Schedule A. They do not want to contribute to the Presidential Election Campaign Fund. All members of the family had health care coverage for all of 2018. If an overpayment results, it is to be refunded to them.
Make realistic assumptions about any missing data.
Enter all amounts as positive numbers.
If an amount box does not require an entry or the answer is zero, enter "0".
When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar.
In: Accounting
For the following description of data, identify the W's, name the variables, specify for each variable whether its use indicates it should be treated as categorical orquantitative, and for any quantitative variable identify the units in which it was measured (or note that they were not provided). Specify whether the data come from a designed survey or experiment. Are the variables time series or cross-sectional? Report any concerns you have as well.
An electronics manufacturerelectronics manufacturer wants to know what college students think about how peoplehow people
access the Internetaccess the Internet. They ask you to conduct a survey that asks students, "Do you think there will be more
smartphonessmartphones or tabletsor tablets used toused to access the Internet in 2025?" and "How likely are you to
use a tablet as your main Internet link in the next 10years?" (scale of 1equals=not at all likely to 5equals=very likely).
Who was measured?
A. The tabletstablets
B. The college students
C. The electronics manufacturerelectronics manufacturer
D. This information is not given.
What was measured? Select all that apply.
A. The likelihood of using a tablet
B. The cost of how peoplehow people access the Internet
C. Number of college students
D. The opinion about how peoplehow people access the Internet in 2025
When were the measurements taken?
A. Last year
B. In 2025
C. Recently
D. This information is not given.
Where were measurements taken?
A. Through the mail
B. At the electronics manufacturerelectronics manufacturer
C. At the college
D. This information is not given.
Why were the measurements taken?
A.The electronics manufacturerelectronics manufacturer wants to know what college students think.
B. The electronics manufacturerelectronics manufacturer wants to know about how people access the Internet.
C.The college students want to know about how people access the Internet
D. This information is not given.
How were the measurements taken?
A. The data was provided by the college.
B. By observation
C. A survey
D. This information is not given.
Specify the categorical variables for this problem. Select all that apply.
A. The likelihood of using a tablet
B. The opinion about how people access the Internetin 2025
C. The number of years until 2025
D. The cost of how peoplehow people access the Internet
E.Number of college students
F. There are no categorical variables.
Specify the quantitative variables and identify the units for this problem. Select all that apply.
A. The likelihood of using a tablet; the units are not specified
B. The opinion about how people access the Internet in 2025; the units are not specified
C. Number of college students; the units are students
D. The number of years until 2025; the units are years
E. The cost of how peoplehow people access the Internet;the units are not specified
F. There are no quantitative variables.
Specify whether the data come from a designed survey or experiment.
A. Designed survey
B. Experiment
C. This information cannot be determined by the given data.
Are the variables time series or cross-sectional?
Time series
Cross-sectional
Neither
Specify any concerns. Select all that apply.
A. The data collection was done incorrectly.
B. There are too many categorical variables.
C. The data sample size was too small.
D. There are no specific concerns.
In: Statistics and Probability
In 2016, the Allen Corporation had sales of $60 million, total assets of $50 million, and total liabilities of $16 million. The interest rate on the company's debt is 5.7%, and it's tax rate is 35%. The operating profit margin is 13%.
Please answer:
a. Compute the firm's 2016 net operating income and net income.
b. Calculate the firm's operating return on assets and return on equity. (Hint: You can assume that interest must be paid on all of the firm's liabilities.)
In: Finance
Use Southwest Airlines' 2016 financial statement information, below to answer the following:
Calculate Southwest Airlines’ return on assets (ROA) for the year ending December 31, 2016.
Disaggregate Southwest Airlines' ROA into profit margin (PM) and asset turnover (AT). Explain what each ratio measures.
| ($ millions) | |
| Total operating revenues | $20,425 |
| Net income | 2,244 |
| Total assets, beginning of year | 21,312 |
| Total assets, end of year | 23,286 |
| Equity, end of year | 8,441 |
In: Finance