Answer:
Explanation:
Bid price - $450,000
Contract cost 2016- $ 180,000
Contract cost in 2017 - $195,000
Gross profit = $75,000
Estimated cost to complete at 2016 - $200,000
Percentage completion in 2016 - 180000/380000* 100 =47 %
Revenue recognized in 2016 - 47% * 450,000 = 211,500
Gross profit = 211,500- 180,000 = 31,500
2017
Revenue recognized - 53% = $238,500
Cost $195,000
Gross profit $43,500
3)Completed contract method -
Income are recognized when contract is completed
2016 - No revenue generated / recorded
2017
Revenue - 450,000
Cost to date - 375,000
Gross profit - 75,000
4) When using the cost recovery method under IFRS , an equal amount of income and revenue is recognized in the early life time of the project
2016
Income - 180000
Cost- 180000
Gross profit - 0
2017
Income -450000
cost 375,000
Gross profit - $75,000
Answer:
$62,026
Explanation:
Calculation for What amount of interest revenue should be included in Marigold's 2021 income statement
First step is to calculate present value of note
Present value of note=$650,000 × .71
Present value of note= $461,500
Second step is to calculate the increase in Present value of note
Increase in Present value of note =$461,500 × 1.12
Increase in Present value of note= $516,880
Now let calculate amount of interest revenue
Interest revenue=$516,880 × 0.12
Interest revenue= $62,026
Therefore What amount of interest revenue should be included in Marigold's 2021 income statement is $62,026
Answer:
False because the providers provide 10 to 20 percent ownership stakes which means potential percentage of the ownership is reserved by the fund seeker. Crowd funding sites also help in raising loans which most fund seekers are looking for because it doen not dilute the ownership percentage holdings.
Answer:
Total fixed cost $16,000
unit fixed cost for 10,000 units $1.60
Explanation:
the budget was made for 8,000 units
so the 2.00 dollars for fixed cost will be based on a production for 8,000 units
total fixed cost: 8,000 budgeted units x $2 per unit = 16,000
This is the level of fixed cost.
<u>For 10,000 units the total fixed cost should be the same.</u>
and for units it will be total cost / units of production
16,000 / 10,000 = 1.6
On unit-level it will drop by 40 cent to $1.60 from $2.00
Answer:
Cash flow from Operating Activities
Net Income $ 53,500
Adjust for Non-Cash items :
Depreciation expense 25,000
Adjust for Working Capital items :
Increase in accounts receivable ($ 5,300)
Increase in inventory ($11,300)
Decrease in prepaid rent $9,900
Increase in operating expenses payable$5,000
Decrease in accounts payable ($7,400)
Increase in income tax payable $21,900
Net Cash from Operating Activities $91,300
Explanation:
Prepare Operating activities section of the statement of cash flows for Horizon Telecom as above.