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quester [9]
3 years ago
5

Bergeron is a local manufacturer of off-shore drilling platforms. In 2020, Bergeron entered into a contract to construct a drill

ing platform, which will be placed in the North Atlantic Ocean. The total contract price is $5,000,000, and Bergeron estimates the total construction cost at $2,000,000. Actual costs incurred in 2020 are $600,000. If Bergeron uses the completed contract method, the gross profit for 2020 is
Business
1 answer:
forsale [732]3 years ago
6 0

Answer:

$900,000

Explanation:

The first step is to calculate the percentage completed

= 600,000/2,000,000

= 0.3

The revenue can be calculated as follows

= 5,000,000 × 0.3

= 1,500,000

Therefore the gross profit for 2020 can be calculated as follows

=1,500,000 -600,000

= $900,000

You might be interested in
an organization that seeks to operate efficiently and effectively to achieve its goals without focusing on profit as a motive
Likurg_2 [28]

Answer: A non profit organization

Explanation: A non profit organization is an establishment created to perform efficiently and effectively, without necessarily making profit as its aim.

They most times function in the area of humanitarian needs, health and medicine, financially empowering the unemployed in communities.

The non profit organization are most times sponsored by government of nations, international bodies ( such as UN, WHO, UNESCO).

6 0
3 years ago
A phenotypically non-bald woman and a bald man produce four bald sons and a non-bald daughter. What are the most likely genotype
Vera_Pavlovna [14]

Answer:

b. bb and BB

Explanation:

For example, pattern of baldness is dominant in man and recessive in female. This is because the gene for baldness (B) in heterozygous state (Bb) expresses itself in male but not in female. It means gene B for baldness behaves as a dominant in male and as a recessive in female. In man due to influence of male sex hormone, a single gene for this trait can cause loss of hair.

But in woman (due to the absence of the male sex hormone) two genes are required to produce baldness.

BB or Bb = Bald in males

bb = not bald in male

BB = Bald in females

Bb or bb = not bald in females

Non-bald womam (bb; XX) x Bald man (BB; XY)

                       XB                                              BY

Xb     XX; Bb (non-bald daughter)          XY; Bb (bald son)

8 0
3 years ago
The president is responsible for the communication and ongoing relationship between America and other nations of the world. This
Natalka [10]

Answer:

B. Diplomatic Relations

Explanation:

Anything involving peaceful relationships and communications between multiple countries is diplomatic relations

8 0
3 years ago
Read 2 more answers
Joseph owns a small business in his hometown, he but would like to expand his
Alja [10]

Answer:

i guess its letter D.

D. Advertising because he can have commercials on all the local TV or radio stations to attract

new customers.

Explanation:

#HOPE IT HELPS

FOLLOW ME!

7 0
2 years ago
g had reported a deferred tax asset of $130 million with no valuation allowance. At December 31, 2021, the account balances of R
andrew-mc [135]

Answer: $101 million

Explanation:

The amount that Ross should report as income tax expense in its 2021 income statement will be calculated thus:

First, we'll calculate the deferred tax asset in valuation allowance which will be:

= Deferred tax asset before valuation allowance - Deferred tax asset after valuation allowance

= $170 million - $130 million

= $40 million

Then, income tax expense will be:

Income taxes payable= $90 million

Add: DTA not be realized = $170 million × 30% = $51 million

Less: Deferred tax asset in valuation allowance = ($40 million)

Income tax expense = $101 million

5 0
3 years ago
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