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Y_Kistochka [10]
3 years ago
11

term fixed price contract to build an office tower for​ $10,000,000. In the first year of the contract Tullis incurs​ $3,000,000

of cost and the engineers determined that the remaining costs to complete are​ $5,000,000. Tullis billed​ $4,000,000 in year 1 and collected​ $3,500,000 by the end of the end of the year. Refer to Tullis Corporation. How much gross profit should Tullis recognize in Year 1 assuming the use of the completed
Business
1 answer:
almond37 [142]3 years ago
8 0

Answer: $750,000

Explanation:

Given that,

Fixed price contract = $10,000,000

Cost incurred in the first year = $3,000,000

Remaining costs to complete =​ $5,000,000

Tullis billed =​ $4,000,000 in year 1

Collected​ by the end of the year = $3,500,000

Percentage of work completed = \frac{Expenditures\ Incurred\ from\ Inception\ to\ Date}{Total\ Estimated\ Costs\ for\ the\ Contract}

= \frac{3}{8} \times 100percent

= 37.5%

Revenue recognized = 37.5% of $10,000,000

                                    = $3,750,000

Income recognized = Revenue recognized - Cost incurred in the first year

                                 = $3,750,000 - $3,000,000

                                 = $750,000

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A marketing researcher is what?

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8 0
1 year ago
A. Identify a profession b. In not more than 60 words, describe the "art" and "science" of such profession in (a).
zheka24 [161]

Answer:

Comedy as a Profession is a great example.

Explanation:

The science of it is related to the psychology of what makes people laugh.

If studied, one would realize that there are certain things that are bound to make people laugh (all things being equal). An example is when a person makes fun of themself to an audience.

To explain this, scientists have stated that it is inherent in humans to laugh at the misfortune of others. However, this is just a theory and does not explain why we laugh at other kinds of comedy.

A plausible explanation (which is more recent in the parlance of psychology) is that people also laugh when certain expectations are defied in a very witty manner.

As a professional stand-up comedian, knowing all the rules and tricks is just one part of the coin. Being able to, either by practice or repeated efforts during practice, internalize these principles, practice them and effectively use them is the artistic part of the picture.

There those who are gifted naturally with a principle thought process that elicits laughter from others, would be termed hilarious. However, to make a living out of comedy, one would need to fully understand the principles and practice to deliver them as naturally as possible.

Another paradigm to the art of comedy is that, it has to be very witty. Wit many times may come with an element of suprise... a new angle that was previously "unthought" of.

Cheers!

6 0
2 years ago
The property tax on a rental house owned by Mr. Janey increased by $1,200 this year. Mr. Janey increased the monthly rent charge
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Answer:

Both will bear

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3 years ago
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Answer:

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Ratio analysis is used to get insight about the financial wellbeing of a business. It is used by analysts to determine various aspects of a business, such as its profitability, liquidity, and solvency.

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