purchase of weapons for the military
Robertson Construction entered into a contract to construct a tunnel for a fixed price of $12,000,000. Robertson recognizes revenue over time according to percentage of completion. Here are some facts: In 2021: Cost incurred during the year is $3,000,000; Estimated cost to complete is $6,000,000 In 2022: Cost incurred during the year is $500,000; Estimated cost to complete is $6,500,000 In 2023: Cost incurred during the year is $6,500,000; Estimated cost to complete is $0. How much gross profit/loss would Robertson recognize in 2022
By measuring the gross revenue Robertson would recognize in 2022, the amount is $5,600,000.
To understand better, we have to begin with the year 2021, where we have the following:
Given that the % of completion = cost incurred till now ÷ total estimated cost;
We have => $3,000,000 ÷ ($3,000,000 + $6,000,000) = 33.33%
Hence, we have the final revenue in the year 2021 to be recognized as
=> $12,000,000 × 33.33% = $4,000,000.
By the year 2022, we have the following percentage completion.
=> ($5,000,000 + $3,000,000) ÷ ($3,000,000 + $5,000,000 + $2,000,000) = 80 percent.
Therefore, we have the total revenue to be recognized
=> $1,200,000 × 80% = $9,600,000
Then given that the Revenue already realized in 2021 = $4,000,000
Therefore, the revenue to be recognized in 2022
=> $9,600,000 - $4,000,000 = $5,600,000.
Hence, in this case, it is concluded that the gross revenue Robertson would recognize in 2022, the amount is $5,600,000.
Learn more here: https://brainly.com/question/942181
During a job interview, Pam Thompson is offered a salary of $32,000. The company gives annual raises of 4 percent. What would be Pam's salary DURING her fifth year on the job? (You may need to round to the nearest answer)
Answer:
$38,933
Explanation:
A=P( 1 + r/100)^n
A= amount
r= rate(4%)
n=period (5)
A=32,000 ( 1 + 4/100)⁵
A=32,000 (1.04)⁵
A=38,932.89
A=$38,933( nearest whole number)
During a job interview, Pam Thompson is offered a salary of $32,000. Pam's salary during her fifth year on the job is $ 37435.474.
What do you mean by the annual raise of salary?
A worker's salary increase is expressed as a percentage of their total base pay. Typically, it represents a portion of the employee's yearly compensation. Employers may utilize increments to raise or lower basic pay as well as to provide incentives.
The yearly increase % calculates the average annual percentage rate of salary increases.
Here,
Current salary= 32000
First increment will occur at the beginning of 2nd year = 32000 × (1+4%)
Second increment will occur at the beginning of 3rd year = 32000 × (1+4%) × (1+4%)
Third increment will occur at the beginning of 4th year = 32000 × (1+4%) × (1+4%) × (1+4%)
Fourth increment will occur at the beginning of 5th year
= 32000 × (1+4%) × (1+4%) × (1+4%) × (1+4%)
= 32000 × (1+4%)^4
= 32000 × (1.04)^4
= 32000 × 1.1698586
= $ 37435.474
Therefore, during a job interview, Pam Thompson is offered a salary of $32,000. Pam's salary during her fifth year on the job is $ 37435.474.
To know more about the annual raise of salary, visit:
https://brainly.com/question/29792380
#SPJ2
what are the four factors underlying the free enterprise system?
Answer:
profit,risk,competition and productivity
Explain the tool of monetary policy a government could use to gain positive balance of payment
Answer:
What is the tool of monetary policy?
Central banks have four main monetary policy tools: the reserve requirement, open market operations, the discount rate, and interest on reserves. 1 Most central banks also have a lot more tools at their disposal. Here are the four primary tools and how they work together to sustain healthy economic growth.
Explanation:
a market that operates outside the legal system, either by selling illegal goods or by selling goods at illegal prices is referred to in economics as a
Answer:
the answer is black market
A student loan is money a person borrows in order to:A: purchase a new house.B: buy luxury goods.c. pay for college tuition.D. pay off existing debt.
A student loan is money a person borrows in order to pay for college tuition. Hence, option C is correct.
What is student loan?A student loan is a loan that is given to students expressly to assist them in paying for higher education, like university. Typically, the loan is divided into two portions: one for maintenance fees and the other for tuition.
Yes, there is normal debt, albeit some lenders impose penalties for early repayment. Yes, there is student debt, and fortunately there are no early repayment fees. You should, however, consider whether it is worthwhile to pay off your debt early.
From the day the Student Loans Company sends your first payment to you, your university, or your college, interest is charged every day until your loan is fully repaid or cancelled.
Thus, option C is correct.
For more information about student loan, click here:
https://brainly.com/question/24501576
#SPJ5
can i return something to walmart without a receipt?
Answer:
Walmart's return policy
Normally, items purchased in our stores or on Walmart.com may be returned or exchanged within ninety (90) days of purchase with or without a receipt.
Explanation:
☺
Mitch and his friends are planning a trip to the Tsunami Springs water park. The employee Mitch spoke to on the phone said the total cost for all 7 of them would be $154. This includes an entrance ticket and a $5 tube rental fee for each person. What is the cost of an entrance ticket
Answer:
Entrance ticket is $17.
Explanation:
Using a expression we can see the costs.
E - Entrance Ticket
T - Tube rental fee
7E + 7T = 154
Substitute T for the $5 that we know is the cost for tube rental.
7E + 7(5) = 154
7E + 35 = 154
-35 -35
7E = 119
/7 /7
E = $17
Answer:
Explanation:
Consider a Malthusian economy. For each of the following scenarios, use the diagrams to illustrate what happens to a country’s population size and living standards, ceteris paribus. Clearly explain what happens to the equilibrium and describe the transition to the new equilibrium if any.a. Marrying late slows down population growth.b. An earthquake kills half of the population and destroys half the land.
In the situations presented, what happens to the population and living standards is that they improve significantly avoiding a Malthusian catastrophe.
Malthusianism is a sociological concept that refers to the theory developed by Thomas Malthus in which he states that population growth at the rate that is being done will result in a decrease in resources for life, that is what he defined as Malthusian catastrophe.
According to the above, the situations presented would be a way of delaying the Malthusian catastrophe because if people marry late, the probability of having children is reduced for biological reasons. In addition, the number of children is going to be reduced.
On the other hand, if an earthquake occurs that destroys half the world and kills half the population, the Malthusian catastrophe is delayed because the available resources would increase in relation to the existing population.
Learn more in: https://brainly.com/question/9278775
ABC Company sold goods to XYZ traders on May 1, 2019. ABC company agreed to accept a Kshs.1,400,000 for 6 month, 12% note in payment for the goods. Interest is payable at maturity. Required: Prepare journal entries to record the above transactions
Answer: If you have ever taken out a payday loan, you may have experienced a situation where your living expenses temporarily exceeded your assets. You need enough money to cover your expenses until you get your next paycheck. Once you receive that paycheck, you can repay the lender the amount you borrowed, plus a little extra for the lender’s assistance.
There is an ebb and flow to business that can sometimes produce this same situation, where business expenses temporarily exceed revenues. Even if a company finds itself in this situation, bills still need to be paid. The company may consider a short-term note payable to cover the difference.
A short-term note payable is a debt created and due within a company’s operating period (less than a year). Some key characteristics of this written promise to pay (see (Figure)) include an established date for repayment, a specific payable amount, interest terms, and the possibility of debt resale to another party. A short-term note is classified as a current liability because it is wholly honored within a company’s operating period. This payable account would appear on the balance sheet under Current Liabilities.
Short-Term Promissory Note. A promissory note includes terms of repayment, such as the date and interest rate.
Explanation:
aanu owns several computer repair shops across northeastern wisconsin, and she has set a goal for her company of increasing market share in all locations over the next three years. aanu has set a:
Aanu's goal of increasing market share in all locations over the next three years is a strategic goal.
A strategic goal are the specific objectives a firm aims and plans to achieve over a specified period of time. The strategic goal set by the firm can either be financial or nonfinancial.
Examples of strategic goals include:
Increasing the market share of the company. Increase customer satisfaction.Increase the number of customers of the company.Other types of goals are:
Operational goals are the steps that a firm takes to achieve in the long term success. Tactical goals are goals that are set for the immediate short time period.To learn more about strategic goals, please check: https://brainly.com/question/15301818?referrer=searchResults
[true or false] Libraries and schools are places where you may conduct formal research.
Answer:
True
Explanation:
most libraries have books that contain reliable info
sometimes with schools
a company has a $10,000 cash balance per its books. the bank statement has a balance of $9,580. the bank reconciliation included $800 of deposits-in transits, $500 of checks outstanding, a $100 nsf check from a customer, and a $20 bank service charge. given the above reconciling items, the up-to-date cash balance equals:
The company's updated cash book balance should equal $9,880.
Data and Calculations:
Balance as per cash book = $10,000
Bank Statement balance = $9,580
Deposits not yet credited by the bank = $800
Checks outstanding = $500
NSF check = $100
Bank service charge = $20
Updated Cash Book
Balance as per cash book $10,000
NSF check (100)
Bank service charge (20)
Updated cash book balance $9,880
Thus, the company's updated cash book balance is $9,880 after taking into account, the NSF check and the bank service charge.
Learn more: https://brainly.com/question/20349280
what are the major works of JT? Explain in point.......
A supererogatory act is an act that is beyond the call of duty.
True
False
Nasdaq, the American Stock Exchange, and the OTC market collectively form the
Answer: Stock market
Collectively, the markets of Nasdaq, the American Stock Exchange, and the OTC market form the Stock Market.
What is the stock market?This is a market where shares or stocks in different companies are sold amongst people.
There are various components in the stock market of the United States including Nasdaq, the American Stock Exchange and the OTC market.
Find out more on the stock market at https://brainly.com/question/690070.
What’s the answer to “Temperatures rise due to global warming in growing seasons of crops in lengthens?”
Explanation:
Crops and livestock will be subjected to increasing temperatures, increasing CO2, and more variable water availability caused by changing precipitation patterns and access to irrigation. These factors effect plant growth and yield and environmental conditions for livestock production.
Temperatures rise due to global warming, which lengthens the growing seasons of crops.
The general rise in temperature is being attributed to global warming, which is primarily brought on by human activities that release greenhouse gases. The crop-growing seasons are being impacted by this rise in temperature. Longer growing seasons give crops more time to develop and produce, which could result in higher yields. The effects of global warming on agriculture are complicated and vary by region.
Longer growing seasons may be advantageous for some regions while posing challenges for others due to increased droughts, extreme weather events, and changes in precipitation patterns that will impact crop productivity and agricultural practices. In order to reduce the negative effects of climate change on crops and ensure food security, sustainable and adaptive strategies are essential.
learn more about global warming here
brainly.com/question/12908180
#SPJ3
the pitfalls of a differentiation strategy include
The pitfalls of a differentiation strategy include many methods such as "attempting to differentiate using easily copied features."
Other methods that could be a pitfall for differentiation strategy includes the following:
When firms differentiate based on the features, they believe buyers do not value.
When firms differentiate based on price, for example, firms charge higher prices to create a premium image.
Differentiation strategy in business is a method businesses or firms use to create distinct products for consumers, and it is expected to give the firms a competitive advantage over rivals.
Hence, in this case, it is concluded that there are various pitfalls in differentiation strategy firms should be aware of.
Learn more here: https://brainly.com/question/15407019
Because of his job, Joseph knows how to operate machinery, design plans, and has knowledge of geography and
math. He is also colorblind. Which career is Joseph most likely a part of?
O Petroleum Engineer
Pump Operator
O Meter Reader
Electrician Installer
Mark this and return
Save and Exit
Next
Submit
Answer:
Electricista Instalador
Explanation:
what is the name of the cost allocation method used for intangible assets?
Answer:
coast allocation for assets is known as amortization. for intangibles. Depreciation, depletion, and amortization are processed of. cost allocation, not valuation.
when individuals choose which information inputs will reach their awareness and ignore other inputs, they are using
for internal record keeping, most companies carry their inventory using the _____ basis.
Answer: FIFO
Explanation:
economics is the study of how limited resources are used to satisfy human wants. economists look at the causes and effects of the choices people make. list 3 decisions that you have made in the last 24 hours.
Answer:
whether I should buy 1killo of orange or 2killo banana
A fundamental law of nature states that the quantities of labor, capital, land, and entrepreneurial resources that can be employed to produce products and services are finite. It implies that there are a finite number of resources available to the economy at any given time to produce products and services.
What three problems must an economic system solve?It's possible to question and remove unsourced material. The three basic economic questions that must be addressed and resolved by economic systems as a sort of social system are: "How much and which alternative commodities and services shall be created?" and "What kinds and amounts of goods shall be produced." How should products be made?
Limitations on resources and insatiable human desire are the root causes of all economic issues. It develops as a result of a lack of resources that can be used in other ways. Each community must make choices about how to use its limited resources. In general, resource allocation is the main issue in an economy.
Thus, The amount of labor, money, land and entrepreneurial resources that can be used to create goods and services is limited, according to a fundamental rule of nature.
Learn more about Economics here:
https://brainly.com/question/14787713
#SPJ2
When you start a new job, you receive a form that you use to prove that you are eligible to work in the U.S. What is this form?
I believe it's a Work Permit.
What does SSQ stand for?
Answer:
Special Skills Qualification (most likely)
Explanation:
There are many different things it could stand for, however since you did not specify the context of this, I am assuming it would be this as it is most common.
gen-tech sells merchandise on account for $4,000 to acorn company with credit terms of 2/10, n/30. within the discount period, acorn company returns $500 of damaged merchandise and a check for ________ to settle the account.
Within the discount period, acorn company returns $500 of damaged merchandise and a check for $3,450 to settle the account
Using this formula
Check amount=(Merchandise sold- Merchandise return)- [(Merchandise sold- Merchandise return)× Discount]
Where:
Merchandise sold=$4,000
Merchandise return=$500
Discount=2%
Let plug in the formula
Check amount=($4,000-$500)-[($4,000-$500)×2%]
Check amount=$3,500-($3,500×2%)
Check amount=$3,500-$70
Check amount=$3,430
Inconclusion within the discount period, acorn company returns $500 of damaged merchandise and a check for $3,450 to settle the account.
Learn more here:
https://brainly.com/question/19865607
damaged merchandise that can be sold only at prices below cost should be valued at
The damaged merchandise that can be sold only at prices below cost should be valued at Net realizable value.
In accounting, the Net realizable value is basically the cash that a company expects to receive based on the eventual sale of an item after deducting any associated costs.
In the case, the damage merchandise can be sold, but it will be at lower price compared to the normal price.
Therefore, the valuation method of Net realizable value is what the damaged merchandise should be valued at.
Learn more about Net realizable value here
brainly.com/question/13488849
select all of the statements that discuss one of the problems with price gouging laws that prevent prices from rising to the new market equilibrium after a disaster.
Companies raise prices to unjust levels when they engage in price gouging. There is no set definition of what constitutes price gouging, but it happens frequently.
The statements that discuss one of the problems with price gouging laws that prevent prices from rising to the new market equilibrium after a disaster are:
1. When prices rise after a disaster, consumers are encouraged to produce less of the good and leave some for others to purchase; price gauging laws short-circuit this effect.
2. When prices rise after a disaster, producers are encouraged to produce more of the good and bring it to the disaster area; price gauging laws short-circuit this effect.
3. Price gauging laws do nothing to address the underlying issues that cause shortages after a disaster. In fact, they often make the problem worse.
Price gouging frequently happens when there is a rapid increase in demand for a specific good, service, or commodity, such as in the case of catastrophes and natural disasters.
The desire for luxuries and non-essential goods decreases in times like these, which causes many firms to lose the sales they typically rely on. In an effort to counteract this loss and stay in business, shops may hike the prices of necessities.
On the other hand, if demand for necessary goods or services surges abruptly, the supply may become severely constrained and prices may rise even further.
Learn more about price gouging here:
https://brainly.com/question/5046026
#SPJ12
Your question seems to be incomplete, but most probably the complete question was:
Select all of the statements that discuss one of the problems with price gouging laws that prevent prices from rising to the new market equilibrium after a disaster. True Statement about Price Gouging Drag appropriate answer(s) here ✓
Price gouging laws keep prices low after a disaster. This forces consumers to buy less of the good than they otherwise would.
When prices rise after a disaster, consumers are encouraged to consume less of the good and leave some for others to purchase; price-gouging laws short-circuit this effect.
When prices rise after a disaster, producers are encouraged to produce more of the good and bring it to the disaster area; price-gouging laws short-circuit this effect.
Price gouging laws reduce shortages after a disaster by keeping prices low. Price gouging laws do nothing to address the underlying issues that cause shortages after a disaster. In fact, they often make the problem worse,
Price gouging laws keep prices low after a disaster. This forces producers to produce more of the needed goods.
You work at the Barnacle Boutique, and you are preparing to offer a class in which customers will hand-dye silk scarves using modern ebru techniques. According to the document, you will need: acid dyes and food coloring. vinegar and powder dye. acrylic paints and water. tissue paper and heat. natural earth pigments and pinewood.
what type of cost remains the same per unit at every level of activity?
Answer:
A variable cost
Explanation:
A variable cost remains the same per unit at every level of activity.
I hope this helps.