Reference no: EM13744948
In 2011, KP Building Inc. began work on a four-year construction project (called “Cincy One”). The contract price is $300 million. KP uses the percentage-of-completion method of accounting. At the end of 2011, the following financial statement information indicates the results to date for Cincy One:
INCOME STATEMENT
Gross Profit (before-taxes) recognized in 2011 $22 million
BALANCE SHEET
Accounts Receivable from construction billings $10 million
Construction in progress $66 million
Less: Billings on construction ($75 million)
Net billings in excess of construction in progress $9 million
Required: Compute the following, placing your answer in the spaces provided and showing supporting computations:
Items to compute:
Cash collected by KP on Cincy One during 2011
Actual costs incurred by KP on Cincy One during 2011
At 12/31/2011, the estimated remaining costs to complete Cincy One
The percentage of Cincy One that was completed during 2011
An affirmative action plan would be appropriate
: Re-creating the police force to make it more reflective of the community - and to do it legally - meaning recruiting in effective places, asking questions in interviews that are legally appropriate, administering applicant tests that are legal etc. A..
|
What particular elements of each organization''s culture
: What particular elements of each organization's culture, processes, and management systems and styles work well to support innovation
|
Calculate the interest expense gunderson reports
: Calculate the interest expense Gunderson reports in 2011 for these bonds.On June 30, 2011, Gunderson Electronics issued 8% stated rate bonds with a face amount of $300 million. The bonds mature on June 30, 2031 (20 years).
|
Differences between americas two major political parties
: Identify three to four ideological differences between Americas two major political parties and analyze key reasons why third parties have never been successful at the presidential level.
|
Construction project-income statement
: In 2011, KP Building Inc. began work on a four-year construction project (called “Cincy One”). The contract price is $300 million. KP uses the percentage-of-completion method of accounting.
|
What type of organizational goals used to select employees
: What are the leaders' reactions to critical incidents and crises What type of organizational goals and associated criteria are used for selection and replacement of employees.
|
Identify and analyse relevant legal social business issue
: Select one Case Study from within Melvin chapters 10-13 (not one of the end-of-chapter case summaries). Write an 800-word analysis of the case. In the first portion, address your personal observations: identify and analyze the relevant legal, social,..
|
Explain what common between circulatory systems of organisms
: What is common among organisms from samples 1, 9, and 10 and what is common between the circulatory systems of organisms from samples 5, 6, and 7, but is different in organisms from sample 4
|
Write a research paper on arab-israeli wars
: Write a research paper on Arab-Israeli Wars. Also include What was the primary cause of this war? What countries were involved? And What was the overall strategy for each side?
|