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Nair Corp. enters into a contract with a customer to build an apartment building for $1,005,000. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $150,000 to be paid if the building is ready for rental beginning August 1, 2015. The bonus is reduced by $50,000 each week that completion is delayed. Nair commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes:
Completed by
Probability
August 1, 2015
70%
August 8, 2015
20
August 15, 2015
5
After August 15, 2015
Determine the transaction price for this contract.
the management of schmader corporation is considering droppingproduct m12c. data from the companys accounting
operating expenses other than depreciation for the year were 400000. prepaid expenses increased by 17000 and accrued
Chamber intends to capitalize and amortize intangibles over the maximum allowable period in accordance with generally accepted accounting principles. Based on this strategy, what is Chambers's expense associated with organization costs in 2017?
Prepare a direct labour budget by quarters for the 6 months ending June 30, 2012.
Beta Mining owns a copper mine. The firm is going through a difficult period as the price of copper has tumbled in recent years. The annual revenue from the mine depends on the price of copper at the end of the year as shown in the table below.
on january 1 2012 palmer company leased equipment to woods corporation. the following information pertains to this
Acey and Deucy formed the Acey-Deucy Partnership
mathias company manufactures a number of specialized machine parts. part bunkka-22 uses 35 of direct materials and 15
Fixed expenses consist of $300,000 of common costs allocated to the three products based on relative sales, and additional fixed expenses of $30,000 (Tingler), $80,000 (Shocker), and $35,000 (Stunner). The common costs will be incurred regardless of ..
Arrow manufactured 19,000 units of product during May using 142,500 pounds of direct material and 5,000 direct labor hours. a. Calculate the direct materials price variance for May.
What is a contingent liability? How is one reflected in the financial statements and the footnotes? How is this accounting treatment consistent with the concept of a liability?
Canliss Mining uses the retirement method to determine depreciation on its office equipment. During 2009, its first year of operations, office equipment was purchased at a cost of $14,000.
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