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Question - Suppose that on July 1, 2019, Tesla signed a contract with XYZ Co. in which Tesla agreed to design, construct and install a large-commercial solar energy system. The agreed upon price was $1,215,000 and the total estimated contract cost was $800,000. The customer will pay the contract price by making four "milestone" payments of $303,750. The first milestone payment was due on September 1, 2019 and the subsequent milestone payments were due on November 1, 2019, January 1, 2020 and March 1, 2020. During the 2019 fiscal year, Tesla incurred costs of $600,000 and the customer made the first two milestone payments. How much revenue (for this contract) should Tesla recognize during the fiscal year that ended on December 31, 2019?
The contribution margin ratio is 20%. If Sheridan will break even at this level of sales, what are the fixed costs
On September 10, the invoice was paid when the exchange rate was $1.75 = 1 pound. What is the entry for payment of the invoice
Beginning inventory of $2,500 and purchases of $17,500. What is the estimated amount of ending inventory at the end of the period?
Shamrock Co. is building a new hockey arena at a cost of $2,600,000. Prepare the journal entry to record this redemption.
on january 1 2012 graham company purchased a new machine for 2800000. the new machine has an estimated useful life of
Analyze the performance of Ghana Oil Company over a five year period (2015-2019) using ratios and any other relevant information
Nimoy Inc., purchased their only fixed asset, a widget machine, four years ago for $6 million. Determine the current market value of Nimoy equity
Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. What is the amount refunded or overpaid
Describe the key document that financial services providers must give to clients so as to meet disclosure of capacity requirements and maintain compliance.
Describe at least two (2) career options someone with an accounting education can pursue. Be sure to reference sources such as the Bureau of Labor Statistics
The manufacturing overhead account showed that overhead was overapplied in the amount of $9,000 for the year. If the predetermined overhead rate was $8.00 per direct labor-hour, how many hours were worked during the year?
a car rental company at a major airport has 60 of its fleet of 210 cars rented each day on average. cars are rented for
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