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vfiekz [6]
3 years ago
7

Long Construction Company uses the percentage-of-completion method of accounting for long-term construction contracts. During 20

21, Long began work on a $400 million fixed-fee construction contract, which was completed in 2024. Cost incurred and estimated costs to complete at year-end for the life of the contract are as follows ($ in millions):
Cost Incurred

Estimated Costs to Complete as of December 31

2021

$60

$240

2022

$84

$176

For the year 2022, Long should have recognized gross profit on this contract of:

a.$20 million.

b.$18 million.

c.$16 million.

d.$14 million.
Business
1 answer:
LUCKY_DIMON [66]3 years ago
8 0

Answer:

$400 million less ($176+$84)=$14 million

Explanation:

the percentage of completion method of accounting is more like of income statement because it is used to assess the companys performance and financial position

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MrRissso [65]

Answer:

The After Tax Cost of Debt = 0.072 or 7.2%

Explanation:

The question is to determine the After Tax Cost of Debt for Rolling Stone.

This is carried out as follows

Step 1: When we decide to calculate the Yield to Maturity, it should be noted that Market Value = Par Value

Therefore,

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Step 2: Based on this derivative, therefore,

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6 0
3 years ago
What is the nash equilibrium for this​ game?
NeTakaya
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4 0
3 years ago
A financier plans to invest up to $400,000 in two projects. Project A yields a return of 11% on the investment of x dollars, whe
Alika [10]

Answer:

Profit = $  49,600.

Explanation:

Given data:

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from data given we  have

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from revenue equation we have

1.11(260,000) + 1.15(140,000) = 449,600 = R

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3 years ago
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nadezda [96]
I don’t understand this question
5 0
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According to the law of increasing opportunity cost, as a society _________ more and more of a certain good, further production
Effectus [21]

Answer:

produces  

increases

trade-offs

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This increase in opportunity cost is associated with increasing and increasing trade-off.

4 0
3 years ago
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