On June 15, 2018, Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington, D.C., for $400 million. The expected completion date is April 1, 2020, just in time for the 2020 baseball season. Costs incurred and estimated costs to complete at year-end for the life of the contract are as follows ($ in millions):

Required:
1. Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion.
2. Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming this project does not qualify for revenue recognition over time.
3. Suppose the estimated costs to complete at the end of 2019 are $150 million instead of $50 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method.

Tricky Ricky Construction Company, Inc., entered a fixed-price contract with Gracelyn Associates on July 1, 2021, to construct a four-story office building. At that time, Tricky Ricky estimated that it would take between two and three years to complete the project. The total contract price for construction of the building is $4,000,000. The building was completed on December 31, 2023. Estimated percentage of completion, accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Gracelyn under the contract were as follows:

Required:
1. Compute gross profit or loss to be recognized as a result of this contract for each of the three years. Tricky Ricky concludes that the contract does not qualify for revenue recognition over time.

2. Assuming Tricky Ricky recognizes revenue over time according to percentage of completion, compute gross profit or loss to be recognized in each of the three years

On June 15, 2018, Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington, D.C., for $430 million. The expected completion date is April 1, 2020, just in time for the 2020 baseball season. Costs incurred and estimated costs to complete at year-end for the life of the contract are as follows ($ in millions):

Required:
1. Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion.
2. Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming this project does not qualify for revenue recognition over time.
3. Suppose the estimated costs to complete at the end of 2019 are $210 million instead of $140 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method.

Does the STR report show net income (profitability) for each hotel in a comp set?

The STR report is the primary reporting tool that helps determine performance for a hotel in management contracts?

How is the concept of resort hotel different from other types of hotels? (15 pts.) From a manager’s perspective, how is managing a resort hotel different from runningother properties?

1. What are the criteria used to select the renovation projects?

2. What would be the indicators that a hotel need to be renovated ? Please make reference to the stages of the hotel life cycle in the explanation.

Assume that Stafford Township decided to construct a bridge in 2018 that is expected to cost $3,000,000. The bridge construction and related costs are to be financed as follows;

Federal Grant                                   $1,200,000

Bond Issue Proceeds                        1,500,000

Transfer from the General Fund      300,000

                                                              $3,000,000

The Federal Grant is for 40% of the qualifying project expenditures with a maximum grant limit of $1,200,000. It is an expenditure driven grant. Any excess unearned grant cash received will be refunded to the federal government at the completion of the project. Stafford Township applies encumbrances to control expenditures.

The bridge is to be constructed by Ace Construction Company. The Stafford Township government workforce will perform all earthmoving & landscaping work. The estimated cost of the bridge is as follows:

Bridge Structure

            Ace Construction Company                                 $2,400,000

Earthmoving & landscaping

Stafford Township                                                  600,000

3,000,000

Please fill in Jounral entry:

Write a program that calculates the occupancy rate for each floor of a hotel. (Use a sentinel value and please point out the sentinel in bold.) The program should start by asking for the number of floors in the hotel. A loop should then iterate once for each floor. During each iteration, the loop should ask the user for the number of rooms on the floor and the number of them that are occupied. After all the iterations, the program should display the number of rooms the hotel has, the number of them that are occupied, the number that are vacant, and the occupancy rate for the hotel. Input Validation: Do not accept a value less than 1 for the number of floors. Do not accept a number less than 10 for the number of rooms on a floor.

Instructions :

• It is recommended that you use the IRAC problem solving method.

• You may use headings and subheadings to structure your answer.

• Your answer must include legal references (relevant cases and/or sections of Acts).

The word limit is 600 words.

Question 2

Earlier in the day, when Rob arrived at the Fancy Hotel before the performance, he was surprised to find that there was a valet car parking service. Rob had not been to the Fancy Hotel before but had used a valet car parking service in the past at another venue. He gave the keys of his Mercedes to the valet attendant and received a ticket in return. He put the ticket into his wallet without reading it.

At the end of the night, he goes to the valet desk and to ask for his car, but it is missing! One of the valet attendant’s recalled handing the car keys over to a customer who had lost his ticket but who was able to identify the car when walking through the carpark.

Rob is furious and demands to speak to Steve, the hotel manager. Steve points to the back of Rob’s ticket which reads: ‘The Fancy Hotel will not be responsible for any damage caused to cars howsoever that damage is caused.’ Steve then says that the same clause is also printed on a large sign in the Hotel entrance. Rob protests and says that he never read the ticket and as he did not enter the Hotel through the main entrance he never saw the sign. Rob wants to sue.  

Using relevant legal principles, discuss whether Rob would be able to sue the Hotel, or whether the Hotel would be able to rely upon the exclusion clause.

Many Japanese cultural traits include ancient Chinese influences. Please discuss examples of Chinese influence that you have discovered in Japanese religious activities, theater, traditional music and instruments.