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Dixon construction Company was awarded a contract to construct an interchange at the junction of U.S. 94 and Highway 30 at a total contract price of $8,000,000. The estimated total costs to complete the project were $6,000,000.
(a) make the entry to record construction costs of $3,600,000, on construction in process to date.
(b) Make the entry to record progress billings of $2,000,000.
(c) Make the entry to recognize the profit that can be recognized to date, on a percentage of completion basis.
Determine the due date and the amount of interest due at maturity on the following notes: Oct. 1 fee amount 10,500, interest rate 8%, and term of the note is 60 days, Aug. 30 18,000, 10%,120 days, May 30., 12,000, 12%, 90 days, March 6, 15,000, 9%..
at a sales level of 80000 blue companys contribution margin is 34000. if the degree of operating leverage is 5 at a
Analyze the differences between US GAAP and IFRS in accounting for equity statements to determine which presents the greatest challenges for the greatest number of companies. Provide specific examples to support your response.
Corporation has the following capital structure at the beginning of the year: Prepare the entries for the two transactions below.
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Management believes that electrical cost is a mixed cost that depends on machine-hours. Using the high-low method to estimate the variable and fixed components of this cost, these estimates would be closest to:
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On July 1, 2011, Tremen Corporation acquired 40% of the shares of Delany Company. Tremen paid $3,000,000 for the investment, and that amount is exactly equal to 40% of the fair value of identifiable net assets on Delany's balance sheet.
the board of education for the central catskill school district is considering the acquisition of several minibuses for
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