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igomit [66]
3 years ago
14

Gleason Construction enters into a long term fixed price contract to build an office building for $28,000,000. In the first year

of the contract Gleason incurs $5,000,000 of cost and the engineers determined that the remaining costs to complete are $18,000,000.
How much gross profit or loss should Gleason recognize irn Year 1 assuming the use of the completed -contract method?

A. $178,571 loss

B, SO profit

C. $5,000,000 loss

D. $2,500,000 profit
Business
2 answers:
Bond [772]3 years ago
8 0

Answer:

B, $0 profit

Explanation:

Under completed contract method the business postponed all the revenues and expenses associated with the contract until the completion of the contract even if they receive / pay the cash for contract transactions.

In this case no profit and expense will be recognized until the project Completed. So, correct option is B, $0 profit.

Komok [63]3 years ago
3 0

Answer:

Option B,$0 profit is the correct answer.

Explanation:

Using the completed-contract method in contract costing implies that all the revenue as well as the associated contract costs are recognized at the end of the contract period.

Specifically,Gleason construction in the process of constructing ,hence no costs and revenue can be recognized ,they are deferred to the completion date of the contract.

The correct option based above explanation is B,$0 profit

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Your godmother put $2,000 in a trust fund for you. In 10 years the fund will be worth $5,000. What is the rate of return on the
damaskus [11]

Your godmother put $2,000 in a trust fund for you. In 10 years the fund will be worth $5,000. 9.60% is the rate of return on the trust fund.

FV =  Future Value

PV =  Present Value

r =  rate of interest

n=  no of period

   

FV/ PV =  (1 + r )^n

5000/2000   =  (1 + r%)^10

2.5 = (1 + r%)^10

r = 9.60%.

The rate of return is the net profit or loss of an investment over a period of time, expressed as a percentage of the original cost of the investment. 1 When calculating the rate of return, find the percentage change from the beginning of the period to the end of the period.

Learn more about the rate of return at

brainly.com/question/3578105

#SPJ4

7 0
2 years ago
During _____ processes for a new project, the organization recognizes that a new project exists, and completes a project charter
never [62]

Answer: (D) Initiating

Explanation:

The Initiating processes is one of the phase in the project management life cycle that is necessary for defining the existing project's main objective, success criteria and also the outcome.

The initiating processes helps in providing the effective information or data that is necessary for the developing the project. It is also refers top the process for obtaining the authorization for the given project.    

 According to the given question, the initiating processes recognizing all the existing projects and also complete all the project charter as part of recognition process.  

 Therefore, Option (D) is correct answer.

5 0
3 years ago
Paul has budgeted to pay $80 each month on his credit card which has a $2,818 balance and has an annual finance rate of 15.9%. H
Mashcka [7]

Answer:

time = 4 year

Explanation:

given data

pay each month =  $80  

Credit card balance = $2,818

annual finance rate = 15.9%

solution

we get here time period that is express by as

Monthly payment = \frac{(P \times \frac{r}{12}) \times (1+ \frac{r}{12})^t }{(1+\frac{r}{12})^t-1}     ............1

put here value and we get

80 =  \frac{(2818 \times \frac{0.159}{12}) \times (1+ \frac{0.159}{12})^t }{(1+\frac{0.159}{12})^t-1}    

solve it we get time t

t = 48 month

time = 4 year

 

4 0
3 years ago
True or false: All final purchases of plant, machinery, and equipment in a given time period are included as gross investment.
sleet_krkn [62]

Answer:

mira eso es muy fácil yo me lo sé pero no es de consultar en el internet as lo con tu mente que facil

4 0
2 years ago
Desribe trend & supply. how do they affect eachother
Sophie [7]
First off you need to know what they mean. Trend means what people are in to and want to buy. Supply is how much the sellers have of items. If you have a huge supply of something that isn't in trend then you won't have any business. If you have a huge supply of something that is in trend, people will buy a lot of it. It is a factor of business like supply and demand. I hope this helped :)
6 0
3 years ago
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