Answer:
D.) $75,000
Explanation:
Amount of revenue recognized = Cost incurred to date / Estimated total cost * Contract price
Cost incurred to date=60,000
Estimated total cost=400,000
Contract price=500,000
Amount of revenue recognized= 60,000/400,000 * 500,000
=0-15 * 500,000
=$75,000
Amount of revenue recognized in year 1 is $75,000
Gaining a profit from sold goods is helpful because the use of scarce resources is optimized. It also provide jobs. The bad side of being in a profit motive business is that some may be tempted to deal with customers . I think that a profit motive business is a good thing.
Answer:
A proportion of your property that you truly own.
Explanation:
Home equity is a homeowner's interest in a home. It can increase over time if the property value increases or the mortgage loan balance is paid down.Put another way, home equity is the portion of your property that you truly “own.” You're certainly considered to own your home, but if you borrowed money to buy it, your lender also has an interest in it until you pay off the loan.
Btw I found this in a website
Hope this helps
As long as you have no dependents
1040EZ is the simplified tax paying form made by IRS. In order to use it you juts have to select your tax filling status and enter some details for your tax counting.
But if you have a dependent ( like a spouse who claimed that you should pay for your child's education fund) , you can not use 1040EZ