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alexandr402 [8]
3 years ago
9

In 2014, Steinrotter Construction Corp. began construction work under a 3-year contract. The contract price was $1,800,000. Stei

nrotter uses the percentage-of-completion method for financial accounting purposes. The income to be recognized each year is based on the proportion of cost incurred to total estimated costs for completing the contract. The financial statement presentations relating to this contract at December 31, 2014, are shown below.Balance Sheet Accounts receivable $32,400 Construction in process 117,000 Less: Billings 110,700 Costs and recognized profit in excess of billings 6,300 Income Statement Income (before tax) on the contract recognized in 2014 $35,100 How much cash was collected in 2014 on this contract?
Business
1 answer:
nataly862011 [7]3 years ago
7 0

Answer:

$78,300

Explanation:

The computation of the cash collected is shown below:

Cash collection = Billings cost - account receivable

= $110,700 - $32,400

= $78,300

Since we have to compute the cash collected so we deduct the account receivable from the billings so that the accurate amount could arrive

Therefore, all the other information which is mentioned is not relevant. Hence, ignored it

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Theresa owes $9,000 on her car loan. If the value of her car is $15,000, what is her equity in the car?
pentagon [3]

Answer:

Theresa has $6,000 in equity.

Explanation:

To get this answer, you take the value of her car ($15,000) and subtract the amount that she owes from it ($15,000-$9,000). This gives you $6,000.

Hope this helps!

7 0
3 years ago
Kim is the risk manager for a large organization. she is evaluating whether the organization should purchase a fire suppression
AlekseyPX

2 million dollars

SLE is Exposure Factor * asset value

Exposure factor is an estimate of the impact of the risk divided by value of asset (2mil/10 mil = .2)

.2*  10,000,000= $2,000,000

7 0
3 years ago
Green Field county stadium is planning to conduct a cricket match between two teams A and B. A large crowd is expected in the st
ANTONII [103]

Answer:

Mode Name: BS-485 Half Duplex Mode 2 wires

Reason 1:  less Noisy

Reason 2:  Allows upto 32 receivers

Explanation:

The BS-485 is an electrical interface, that supports half-duplex mode through 2 wires, and full-duplex mode through four wires. However, here, we only need the half-duplex mode, and that is enough as the recordings are to be shown on the screen, which is the receivers, and they do not need to talk to the transmitter, while the transmitter is transmitting the recordings to the screen. And since, BS-485 supports around 32 receivers, its more than enough for this question requirement. So its half-duplex mode, and an example of the Serial data transmission. And also, it's synchronous, as there is no stop in between the data packets.

4 0
3 years ago
At ICS Inc., a company that deals in software products, employees regularly complain about the lack of clarity regarding the tas
nekit [7.7K]

Answer:

<u>E) recruitment and selection</u>

<u>Explanation:</u>

The <u>human resource department </u>of an organization is responsible for assigning tax to employees after recruitment based on their abilities.

Hence, the human resource team at ICS Inc needs to improve on filling the gaps in the organization or selecting the best employee for a particular job. This role involves providing clarity regarding the tasks employees are required to perform.

8 0
3 years ago
Maurio inc., a publishing house, wants to invest in digital publishing. however, the company does not possess enough capital to
icang [17]

Answer:

A) Factoring

Explanation:

Factoring: This is a short term financial option which refers to financial transactions between a business firm and a financial institution. It is the selling of debt by a business firm at a discounted price to a financial institution.

Maurio inc. is involved in factoring by selling its accounts of credits to restube which is i financing firm at a discount in order to have enough capital to invest in digital publishing.

Factoring is the relationship between the financial institution and the business firm in which the fimancial institution purchases the business firms credit and pay about 80% to 90% immediately and pay the balance at a later date.

There are different types of factoring;

1) Domestic and export factoring

2) Recourse and non-recourse factoring

3) Advance and maturity factoring

4) Disclosed and undisclosed factoring

5 0
3 years ago
Read 2 more answers
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