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Alecsey [184]
3 years ago
9

Kline Corp. recognizes revenue over time to account for long-term contracts. The contract price is $5 million, total constructio

n costs are $3.75 million, actual costs incurred during the first year are $1.5 million, and the revenue recognized is $2 million. The journal entry to record revenue during year 1 is: (Select all that apply.)
a. Debit: CIP $500,000
b. Credit: Revenue $2 million
c. Debit: Cost of construction $1.5 million
Business
1 answer:
timurjin [86]3 years ago
7 0

Explanation:

The journal entry is shown below:

Contract price Dr $500,000

Cost of construction $1.5 million

        To Revenue $2 million

(Being the revenue for the year 1 is recorded)

For recording this transaction we debited the contract price and cont of construction while credited the revenues account so that the proper posting could be done

             

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When the Fed buys bonds from financial institutions, new money moves directly Group of answer choices
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Answer:

out of the loanable funds market.

Explanation:

In the case when the Fed purchased bonds from a financial institution so the new money shift directly out of the funds market i.e. lonable because the bank reserve would increased also they begins lending at lesser rate of interest

Therefore as per the given situation, the fourth option is correct

And, the same is relevant

8 0
3 years ago
When comparing Mexico to Scotland, you would expect Scottish workers to have ________. more satisfaction worse working condition
Fudgin [204]

When comparing Mexico to Scotland, you would expect Scottish workers to have greater productivity and higher labour cost per worker

Explanation:

One may expect that a Scotland plant will be less labour intensive and efficient per worker than just Mexican facilities as a more advanced technological nation and that "higher productivity and low labour cost" will be the right answer.

Both possibilities for lower productivity can be excluded as they demonstrate lower productivity. "Higher productivity, but less energy per job" is not the solution because it recognises lower labour costs per worker rather than higher.

The increase in labour productivity relies, according to certain studies, on three key factors: innovation and capital goods saving, modern technology and human capital.

5 0
3 years ago
Bill just financed a used car through his credit union. His loan requires payments of $275 a month for five years. Assuming that
sergiy2304 [10]

Answer:

Amortized loan

Explanation:

Hope that helps

5 0
2 years ago
Money creation occurs when: a person puts cash in a bank. a person deposits a payroll check in their checking account. banks mak
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Is this a paper you have write or do they have Any answer choices
7 0
3 years ago
Inga invested part of her $6000 savings in common stock and the rest in rare stamps. At the end of the year, she realized a gain
kherson [118]

Answer:

The amount Inga invested in stamps is $2,500.

Explanation:

Let x represents the amount invested in common stock. Therefore, we have:

Amount invested in common stock = x

Amount invested in stamps = 6000 - x

Rc = Rate of gain from common stock = 9%, or 0.09

Rs = Rate of gain from common stock = 12%, or 0.12

Amount of saving now = $6615

Therefore, we have

Amount of saving now = (x * (1 + Rc)) + ((6000 - x) * (1 + Rs)) ………….. (1)

Substituting all the relevant values into equation (1) and then solve for x, we have:

6615= (x * (1 + 0.09)) + ((6000 - x) * (1 + 0.12))

6615 = (x * 1.09) + ((6000 - x) * 1.12)

6615 = 1.09x + (6720 - 1.12x)

6615 = 1.09x + 6720 - 1.12x

6615 - 6720 = 1.09x - 1.12x

-105 = -0.03x

x = -105/-0.03

x = 3,500

Therefore, we have:

Amount invested in stamps = 6000 - x = $6,000 - $3,500 = $2,500

Therefore, the amount Inga invested in stamps is $2,500.

5 0
3 years ago
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