There are no following ways shown here.
Answer:
a. 2017 2018 2019
Expenses incurred for the year A 36 million 81 million 63 million
Estimated total cost B 180 million 180 million 180 million
% Completion (A/B) C 20% 45% 35%
Revenue recognized for the D 44 million 99 million 77 million
period (220 million * C)
Gross profit (D-A) $8 million $18 million $14 million
b. Yes, the cost-to-cost method provides a good measure of this construction company's performance under the contract.
Answer:
When one company exerts sole control over a resource that is necessary for the production of a specific product, the market may become a monopoly.
Explanation:
This is because you can control companies if you are the only place available for a resource for example water in dry contents
Answer and Explanation:
The Journal entry is shown below:-
Accounts payable Dr, $54,000 ($60,000 - $6,000)
To Inventory , $1,080 ($54,000 × 2%)
To Cash $52,920
(Being cash paid for accounts payable is recorded)
Here we debited the inventory as it increased the current assets and we credited the cash and account payable as it decreased the current assets and increased the current liabilities.
