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Question - In 2019, Richard Corp signed a contract valued at $1M. It was estimated that $750K would be required to complete the work requested. In 2019, a total of $100K in costs had been accumulated. In 2020, the area in which the work was performed received an unexpected ice storm that knocked out power for two weeks. This caused the total estimated costs to complete the project to increase to $1.2M due to contingencies placed within the contract. An additional $500K costs was accumulated during 2020. Prepare the journal entries required in 2019 and 2020.
Prepare the necessary ledger accounts assuming that a separate set of books are maintained for the joint venture transactions
Service charge for the month- P150; Proceeds of note collected by the bank- P6,400. What is the correct balance for cash after considering the reconciling items
Describe a data consolidation strategy and at least two different types of visualization techniques the sales manager can use to analyze the data received from all stores.
Wildhorse Company issued its 7%, 25-year mortgage bonds in the principal amount of $2,800,000 on January 2, 2003, at a discount
snappy tiles is a small distributor of marble tiles. snappy identifies its three major activities and cost pools as
Option 1: A payment of $65,000 one year from today; a payment of $85,000 after three years; Calculate the present value for each
What are five basic principles, which, if followed, should improve the probability of preparing a meaningful budget? Why is each important?
1. in a perpetual inventory system a. the inventory and cost of goods sold accounts are updated once a period. b.
The company is granted a charter that authorizes issuance of 15,000 shares of $100 par value preferred stock and 40,000 shares of no-par common stock.
Martinez returns merchandise worth $1500 to Blue. On January 24, payment is received from Martinez for the balance due. What is the amount of cash received
Santana Rey created Business Solutions on October 1, 2019. Prepare the journal entry to reflect the initial $86,000 investment under each of the options
If the requirement is 4,500 units, is it more cost-effective for the firm to buy or make the components? What is the cost savings for choosing the cheaper?
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