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 = 
= 
= 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
The utmost effective
audit procedure for determining the collectability of an account receivable is
the, review of the subsequent cash collections. Reviewing the subsequent cash
collections speeds up the audit procedure to determine the collectability of an
account receivable.
<span> </span>
Answer:
Net Income or Loss : a. 2019 = $53000 ; b. 2020 = $4000 loss ; c. 2021 = $43000
Explanation:
Assets - Liabilities = Capital (Closing/Opening)
458000 - 317000 = 141000 (2019 Closing Capital)
Profit = Closing Capital - Opening Capital + Drawings - Additional Capital
A. 2019 Opening Capital = 100000 (Given)
2019 Closing Capital = A - L = 458000 - 317000 = 141000
2019 Profit = CC - OC - D + AC = 141000 - 100000 + 12000 = 53000
B. 2020 opening capital = 2019 Closing Capital = 141000
2020 closing capital = A - L = 538000 - 367000 = 171000
2020 Profit = CC - OC + D - AC = 171000 - 141000 - 34000 = 4000 Loss
C. 2021 opening capital = 2020 closing capital = 171000
2021 closing capital = A - L = 668000 - 467000 = 201000
2021 Profit = CC - OC + D - AC = 201000 - 171000 + 25000 - 12000 = 43000
Answer:
Fixed mindset
Explanation:
Mindset could be explained as an individual's psychological state which often transcends into how we perceive challenges, what we can do and what we can't. Usually the ability to solve a puzzle, face and conquer a challenge starts and ends with an individual's mindset as it is where either the strength to execute or depression to walkway is derived.
The growth mindset gives individuals who exhibit the trait the strength and morale to face challenges, instead of backing out without trying, they try to find ways of constantly improving at what seems difficult.
On the other hand, the fixed mindset which is what is exhibited by Leandro could be deemed as a rigid type of notion whereby an individual believes all he knows and all he can do are already fixed, hence anything aside those cannot be successfully executed this kind of individuals fail to try new challenges.
Answer:
The correct answer is the option 1: high pressure for cost reductions and low pressure for local responsiveness.
Explanation:
To begin with, the concept known as <em>"Global Standardization"</em>, in the field of marketing and business, refers to the strategy that the companies can use when they decide to implement the same marketing strategy or campaign to every country in where the organization works. Therefore that the term refers to the standardization of the strategy that the company use in the marketing area to the whole globe due to the fact that mainly they look for the reduction of the costs and also because the pressure from the local responsiveness from the other foreign countries tend to be very low.
