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:

Westgate recognizes revenue over time according to percentage of completion.

3. Complete the information required below to prepare a partial balance sheet for 2018 and 2019 showing any items related to the contract. (Do not round intermediate calculations.)

Pick one of the four and risk by telling us what you believe one rule is critical for founders. Why is it critical? Could you be a successful founder without it? Why or why not

1: There aren't any records interior your constructing, so get outside In our enjoy its miles very a difficult enjoy to herald practice. If you begin a business enterprise or a brand new mission you would really like to create. Actually, you're so satisfied that your new products or services are something your ability consumer needs, it's miles boom marketplace you're getting into and all of the marketplace studies reviews are verifying this. The best aspect this is lacking is your product. So the best aspect you want to do is create the product. And then… Nobody desires to shop for your product or as a minimum your income is a long way underneath your estimations. It is sort of well-known so what you want to do. Get out of the construction and communicate for your ability customers. Preferable earlier than you created any product or maybe a Minimum Viable Product. Do it your self as a founder, do now no longer delegate this client improvement for your personnel or to outside specialists. Employees and specialists will now no longer inform you of the difficult remarks your ability customers supply you.

2: Pair client improvement with Agile improvement In rule 1, you discovered to get out the construction. Do not begin any advent of a product earlier than you realize what to create. Less is more. But is you realize what to create, then do it agile. Not the best agile software program improvement (scrum) however contain the software program improvement into the agile client improvement. Make as many as feasible releases (as defined in contentious deploying with the aid of using Eric Ries) and check it with your (ability) customers.

Rule three: Failure is an indispensable a part of the search Creating new services or products inside a brand new business enterprise way many failures. You are satisfied to understand what your consumer desires however the consumer does now no longer need to shop for. It is failure however it isn't always so horrific because it seems like. It became a test that failed. It is gaining knowledge. The mission is to hold the gaining knowledge of the cycle as brief as feasible, use as much less as feasible assets and hold the time as brief as feasible. Less is more.

4: Make non-stop iterations and pivots It is already referred to in rule three and earlier than. Iterate, create experiments, analyze, create new experiments all inside restricted time and assets. Pivot all of the time until you reached the product marketplace healthy. If you attain product marketplace healthy then use all of your coins and assets to scale the enterprise.

The CEO of your hospital asks you to outline a strategic plan for improvement in delivery of nursing services ?  How would you begin?

As a CEO of a hospital, discuss why fraud occurs? Discuss policies and actions at your hospital to prevent fraud? (200 word count)

What are Mary Berra (CEO of General Motors) five key strategic decisions? How does she implement each one?

What is the major problem Disney is facing? If you had five minutes with Disney's CEO, what advice would you offer?

The idea of insurance is that we all face risks that are unlikely but carry high cost. Think of a fire destroying your home. So we form a group to share the risk: we all pay a small amount, and the insurance policy pays a large amount to those few of us whose homes burn down. An insurance company looks at the records for millions of homeowners and sees that the mean loss from fire in a year is μ = $500 per house and that the standard deviation of the loss is σ = $10,000. (The distribution of losses is extremely right-skewed: most people have $0 loss, but a few have large losses.) The company plans to sell fire insurance for $500 plus enough to cover its costs and profit. (a) Explain clearly why it would be unwise to sell only 100 policies. Then explain why selling many thousands of such policies is a safe business. (b) Suppose the company sells the policies for $600. If the company sells 50,000 policies, what is the approximate probability that the average loss in a year will be greater than $600?

Jay Company, as lessee, enters into a lease agreement on January 1, 2020, to lease equipment. The following data are relevant to the lease agreement.
- The term of the noncancellable lease is three years, with no renewal option. Payments of $12,000 are due on January 1, of each year.
- The fair value of the equipment on January 1, 2020 is $35,000. The equipment has an estimated economic life of five years, and an unguarenteed residual value of $4,000.
- The equipment reverts back to the lessor at the termination of the lease and is expected to have use to the lessor.
- The lessee is aware that the lessor used an implicit rate of 6%.
(Present Value & Future Value Tables are provided on pages 3 and 4)
Instructions:
1. Indicate the type of lease Jay has entered into and why (include a list of the Capital Lease Criteria)
(Present Value & Future Value Tables are provided on pages 3 and 4)
2. Prepare the journal entries on Jay’s books related to the lease agreement for the following dates: (round all amounts to the nearest dollar. Include a partial amortization schedule)
a. January 1, 2020
b. December 31, 2020
c. January 1, 2021
Problem #2 (14 points)
Calculation of lease payments
Zest Company, as lessee, enters into a lease agreement on January 1, 2018, to
lease equipment. The following data are relevant to the lease agreement.
- The term of the noncancellable lease is three years, with no renewal option.
- The fair value of the equipment on January 1, 2018 is $60,000. The
estimated residual value is $0.
- The equipment reverts back to the lessor at the termination of the lease.
- The lessor used an implicit rate of 4%.
Instructions:
-Calculate the required amount of the lease payments

Waterway Paper Products purchased 11,900 acres of forested timberland in March 2020. The company paid $2,023 per acre for this land, which was above the $952 per acre most farmers were paying for cleared land. During April, May, June, and July 2020, Waterway cut enough timber to build roads using moveable equipment purchased on April 1, 2020. The cost of the roads was $290,100, and the cost of the equipment was $267,750; this equipment was expected to have a $10,710 salvage value and would be used for the next 15 years. Waterway selected the straight-line method of depreciation for the moveable equipment. Waterway began actively harvesting timber in August and by December had harvested and sold 642,600 board feet of timber of the estimated 8,032,500 board feet available for cutting. In March 2021, Waterway planted new seedlings in the area harvested during the winter. Cost of planting these seedlings was $142,800. In addition, Waterway spent $9,520 in road maintenance and $7,140 for pest spraying during calendar-year 2021. The road maintenance and spraying are annual costs. During 2021, Waterway harvested and sold 921,060 board feet of timber of the estimated 7,675,500 board feet available for cutting. In March 2022, Waterway again planted new seedlings at a cost of $178,500, and also spent $17,850 on road maintenance and pest spraying. During 2022, the company harvested and sold 773,500 board feet of timber of the estimated 7,735,000 board feet available for cutting. Compute the amount of depreciation and depletion expense for each of the 3 years (2020, 2021, and 2022). Assume that the roads are usable only for logging and therefore are included in the depletion base.