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Question - Kingbird Inc., began work on a $7,500,000, non-cancellable contract in 2020 to construct an office building. During 2020, Kingbird Inc. incurred costs of $1,040,000, billed its customers for $1,100,000 (non-refundable), and collected $800,000. At December 31, 2020, the estimated future costs to complete the project totalled $2,960,000.
Required - Prepare Kingbird's 2020 journal entries using the percentage-of-completion method.
Comment on the use of standard deviation as oppose to the use of CAPM as a risk measurement
Sales Returns and Allowances $31,180, and Sales Discounts $17,580. Prepare the sales revenues section of the income statement
Prepare a cost of production report for the Sifting Dept for October, using average cost method.
What do you think about the act? How is it helpful? Do you believe its a good law to have in place? why did they make this law? what are the pros and cons?
For OBrein Company, selling price is $30 per unit and variable cost are $18 per unit. How many units would O'Brien need to sell to earn profit of $60,000
Under this scenario, what will be Jebb's increase or decrease in profit for the year if he chooses to start slicing up the lettuce instead of selling it whole
magic co. is considering the purchse of a new machine to manufacture its own brand of magic kits for large magic shows.
What are Pat's first week's deductions for Social Security and Medicare? (Round your answers to the nearest cent.)
Explain to Mr. Skaros why his production cost report showed only 2,000 equivalent units in ending inventory. Using a professional tone, explain to him clearly
The bill has now been received and a check will be issued immediately. What is the proper treatment for the accrual journal entry which occurred last month.
WIP-Mixing Inventory, WIP-Finishing Inventory
If the annual return on comparable investments is 8%, what is this investment currently worth
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