1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zalisa [80]
3 years ago
11

Blue Co. had the following first-year amounts related to its $12,000,000 construction contract: Actual costs incurred and paid $

3,000,000 Estimated remaining costs to complete 6,000,000 Progress billings 3,500,000 Cash collected 3,100,000 Assuming the contract qualifies for revenue recognition over time, what total amount (excluding cash) should Blue Co. recognize as current assets at year end
Business
1 answer:
IrinaVladis [17]3 years ago
3 0

Answer:

$900,000

Explanation:

The computation of the total amount excluding cash is shown below:

But before that following calculations need to be done

% completion during the year is

= $3,000,000 ÷ ($3,000,000 + $6,000,000)

= 33.3333%

Now Total revenue to be recognized for the year is

= $12,000,000 × 33.33333%

= $4,000,000

Profit for the year is

= $4,000,000 - $3,000,000

= $1,000,000

Now Accounts receivables at the end of year is

= Billings - Collection

= $3,500,000 - $3,100,000 = $400,000

Now Cost and profits in excess of billings

= ($3,000,000 + $1,000,000) - $3,500,000

= $500,000

And, finally Total amount of current assets to be recognize at year end is

= $400,000 + $500,000

= $900,000

You might be interested in
How will the increase in government spending financed by borrowing affect national savings?.
Whitepunk [10]

Increament in government spending which is financed by borrowing will most likely affect national savings.

This is because borrowing money means you are spending from your future income.

The negative effect of spending borrowed money will most likely be felt when the money is not used for money yielding ventures.

This means that when borrowed money is not used to boost the economy of a country, it will most likely lead to the depletion of the national savings or reserve.

<h3>Viable areas to utilizing borrowed money</h3>

  • Infrastructure development
  • power
  • Education
  • Health
  • Transportation
  • Research

Learn more about National Savings at brainly.com/question/15109837

8 0
2 years ago
What is the difference between a traditional savings account and an online savings account
Rudiy27
In traditional savings account, you can withdraw money whenever you need it without a financial penalty. In online savings account, link to traditional or online checking accounts and you enter your banks routing number and account number on the application. You can also transfer money between linked accounts with online savings. (hope this helps:)
6 0
3 years ago
Consultant susan wheelan encourages appointed leaders to adjust their leadership style to the group's:
brilliants [131]

Answer:

The correct answer is stage of development.

Explanation:

Leadership is a process, not a punctual act. A person does not go from having little impact on others to having a great influence from one day to another, it takes an evolution and especially the necessary step through the 4 stages of leadership.

When we analyze the different types of leaders that have an impact, we realize what kind of steps they have taken to get there, what different phases they have had to go through and what their evolution has been. This model helps us to contextualize the place in which a person is and what the next steps would be to improve their leadership capacity.  

Stage I. Depend on other people

Stage II: Individual and independent contribution

Stage III Contribution through others

Stage IV: Leadership through a vision

3 0
3 years ago
For each of the following resources, name at least two (hypothetical) competing potential uses for that resource. Then for each
STatiana [176]

Answer:

Question 1 - A parcel of vacant land located at the intersection of two streets used heavily by commuters

The parcel of vacant land could be used for building a house for domestic purposes: to be inhabited by a family or any other group of people, or it could also be used for building a commercial property (for example, a convenience shop).

Because the parcel is located at an intersection where there are many commuters, the market will likely determine that a commercial property would be more profitable, since many commuters means many potential customers.

A house, on the other hand, could not be as profitable, because people tend to dislike living in places where there are many people around.

6 0
3 years ago
Given the series of demand data below Period: 1 2 3 4 5 6 7 8 9 10 Demand: 42 35 58 42 27 49 40 41 27 41 a. Calculate the foreca
Mumz [18]

Answer:

Kindly check Explanation

Explanation:

Given :

Period: 1 2 3 4 5 6 7 8 9 10

Demand: 42 35 58 42 27 49 40 41 27 41

Using n = 2

Week - - - - - - - - - - n = 2

7 - - - - - - ( 27 + 49)/2 = 38

8 - - - - - - (49 + 40)/2 = 44.5

9 - - - - - - -(40 + 41)/2 = 40.5

10 - - - - - - (41 + 27)/2 =34

11 - - - - - - - (27 + 41)/2 34

Using n = 4

Week - - - - - - - - - - n = 4

7 - - - - - - (58 + 42 + 27 + 49)/4 = 44

8 - - - - - - (42 + 27 + 49 + 40)/4 = 39.5

9 - - - - - - -(27 + 49 + 40 + 41)/4 = 39.3

10 - - - - - - (49 + 40 + 41 + 27)/4 =39. 3

11 - - - - - - - (40 + 41 + 27 + 41)/2 = 37.3

Using n = 6

Week - - - - - - - - - - n = 6

7 - - - - - - (42 + 35 + 58 + 42 + 27 + 49)/6= 42.2

8 - - - - - - (35 + 58 + 42 + 27 + 49 + 40)/6 = 41.8

9 - - - - - - -(58 + 42 + 27 + 49 + 40 + 41)/6= 42.8

10 - - - - - - (42 + 27 + 49 + 40 + 41 + 27)/6 =39.7

11 - - - - - - - (27 + 49 + 40 + 41 + 27 + 41)/6 = 37.5

4 0
3 years ago
Other questions:
  • Boxer Inc. reported inventory at the beginning of the current year of $360,000 and at the end of the current year of $411,000. I
    10·1 answer
  • Why might Business classification and behavior change?
    13·1 answer
  • Which of the following would make the best thesis statement for a debate? a. Art and music classes are great. b. Schools should
    5·2 answers
  • A company is trying to decide whether to sell partially completed goods in their current state or incur additional costs to fini
    7·1 answer
  • Smiling Elephant, Inc., has an issue of preferred stock outstanding that pays a $6.10 dividend every year, in perpetuity. If thi
    12·1 answer
  • Earl was known for driving 30 miles just to save a dollar on the price of case of his favorite carbonated beverage. Earl perceiv
    14·1 answer
  • A year​ ago, the Really Big Growth Fund was being quoted at an NAV of ​$22.28 and an offer price of ​$23.45. ​Today, it's being
    5·1 answer
  • Of the following statements about trade, which is NOT true? Trade generates jobs in both export and import sectors of an economy
    10·1 answer
  • May 24 Sold merchandise on account to Old Town Cafe $18,450. The cost of goods sold was $11,000. Sept. 30 Received $6,000 from O
    10·1 answer
  • Help me please.. there is no option on here for Human Resources principals, so I jus clicked business as the subject..
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!