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Gunner construction has consistantly used the percentage-of-completion method of recognizing revenue. During 2014, Gunner started work on a $2,500,000 fixed-price construction contract. The accounting records disclosed the following data for the year ended 12/31/14: Costs incurred=$465,000 / Estimated cost to complete=$2,085,000 / Progress billings=$550,000 / Collections=$350,000. How much loss should Gunner have recognized in 2014?
small motors inc which is currently operating at full capacity has sales of 29000 current assets of 1600 current
Using the high-low method, estimate the variable and fixed cost elements of the annual cost of the truck operation - Express the variable and fixed costs in the form Y = a + bX.
the following information pertains to leslies floor store sales on account and accounts receivable. accounts receivable
colt industries had sales in 2008 of 6400000 and gross profit of 1100000. management is considering two alternative
the pure company uses cost-plus pricing with a 50 mark-up. the company is currently selling 100000 units at 12 per
wally inc has been authorized to issue 2000000 shares of 1 par value common. they have 700000 shares issued and 670000
The Butterfly Corporation had the following information that pertained to its March budget.
information is limited. profit margin on sales 5 return on assets 7.5 gross profit margin 40 inventory turnover ratio 6
Suppose next year the Baldwin Company generates $44,200 in net profit, pays $12,000 in dividends, total assets increase by $55,000, and total liabilities remain unchanged. What will ending Baldwins balance in Common Stock be next year?
Top executive officers of Leach Company, a merchandising firm, are preparing the next year's budget. The controller has provided everyone with the current year's projected income statement
Its accountant uncovered $87,000 in net positive adjustments and $2,000 of preference items in determining its alternative minimum taxable income. What are the corporation's AMTI and AMT?
abc ltd. a manufacturing company incurred the following expenses during a certain period. you are required to prepare a
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