The capital projects fund account for the 10 percent retainage as (B) II only.
<h3>
What is retainage?</h3>
- Retainage is a percentage of the agreed-upon contract price withheld until the work is substantially completed to ensure that the contractor or subcontractor will fulfill its responsibilities and complete a construction project.
- Retention is money kept back by one party in a contract as security for unfinished or defective work.
- Assume the contract is worth $20,000 and you're submitting a paid app after finishing 25% of the work.
- So you earned $5,000 during the pay period, but retainage is 5%. The current progress payment has been reduced by $250.
- As a result, the "Amount Due for this Request" will be $4,750.
So, in the given situation the capital projects fund account for the 10 percent retainage as (II) the credit for $400,000 to Contracts Payable-Retained Percentage, that is (B) II only.
Therefore, the capital projects fund account for the 10 percent retainage as (B) II only.
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The correct question is given below:
The capital projects fund of Hood River completed the construction of an addition to its city hall at a cost of $4,000,000. The city council approved payment of the amount due to the general contractor, less a 10 percent retainage. How should the capital projects fund account for the 10 percent retainage?
I. As a credit of $400,000 to Deferred Revenue-Retained Percentage
II. As the credit for $400,000 to Contracts Payable-Retained Percentage.
A. I only
B. II only
C. Either I or II
D. Neither I nor II
Answer:Telling style leadership
Explanation: According to Hersey and Blanchard’s situational model of leadership, The telling style is an authoritarian type of leadership ususally directed or used with low- maturity followers where the leader gives explicit directions and instructions on how tasks should be performed and orders are not subject to interpretation
This type of leadership usually occurs when the leader has an expertise in the area which he or she specializes and so gives clear, precise quick and controlled instructions for efficient implementation.
Here, Sandra uses the Telling style leadership to accomplish tasks and performances.
Answer:
275
Explanation:
You will add all the figures;that is;44+67+91+18+55=275
Answer:
$119.56
Explanation:
We will use compound interest formula to solve this problem.
The formula is:
Where
F is the future value
P is the present amount
r is the rate of interest per period
t is the number of periods
Here,
F is the value we want, after 3 years
P is the present amount, $100
r is the rate of interest per quarter (per period)
Given r = 6% annually, so that would make:
6%/4 = 1.5% per quarter, or 1.5/100 = 0.015
Also, t is the number of quarters in 3 years, that would be 4*3 = 12
Now, substituting, we get our answer:
The first answer choice is right, $119.56
