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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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Angell Inc. hired you as a consultant to help them estimate their cost of capital. You have been provided with the following dat
DIA [1.3K]

Answer:

Option (D) is correct.

Explanation:

Given that,

Dividend, D0 =$1.20

Price, P0 = $50.00

Growth rate, g = 6% (constant)

Based on the DCF approach, then

Cost of Equity:

= [D0 × (1 + g) ÷ P0] + g

= [(1.20 × (1 + 0.06)) ÷ 50] + 0.06

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= 0.02544 + 0.06

= 0.08544 or 8.54%

Hence, the cost of equity from retained earnings is 8.54%.

3 0
3 years ago
Which best describes the barrier to trade known as dumping? Destroying shipments of imports to force consumers into purchasing d
Lana71 [14]

Answer: Selling exports abroad at a lower price than the domestic price.

Explanation:

Dumping is a practice in international trade where the country exporting, does so at a price that is lower than the domestic price of the good being exported in the importing country.

This allows the country exporting to gain more market share but can also lead to the collapse of the domestic industry thereby allowing for an export based monopoly to form.

An example would be Japan selling electronics in the U.S. at lower rates to capture market share even though those same electronics commanded a higher price in Japan.

7 0
3 years ago
The market supply curve Question 16 options: is found by vertically adding the individual supply curves. represents the sum of t
Juli2301 [7.4K]

The market supply curve represents the sum of the quantities supplied by all the sellers at each price of the good.

<h3>What is the market supply curve?</h3>

The market supply curve is the sum of the individual supply curves of firms. The individual supply curves are added horizontally. The supply curve sloped upward. This shows that there is a positive relationship between price and quantity supplied.

To learn more about supply curves, please check: brainly.com/question/26073189

#SPJ1

8 0
2 years ago
Percy’s GPA is 2.75, so he should list it on his résumé. T/F
timama [110]
In filling up a resume, there are questions that are basic and necessary that a person should feel up to satisfy the qualifications that the client is looking for. But in terms of GPA, like Percy's. It is not appropriate to put it on the resume unless if asked or needed. But most of the time, it is not needed so the answer is false.
3 0
3 years ago
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what is budget head no.of other goods , furnishing goods , repair and maintenance , printing charges , office supplies ?​
siniylev [52]

Answer:

Budget expenditure part

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