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Problem - On January 1, 2020, Monty, Inc. signed a ?xed-price contract to have Builder Associates construct a major plant facility at a cost of $4,215,000. It was estimated that it would take 3 years to complete the project. Also on January 1, 2020, to ?nance the construction cost, Monty borrowed $4,215,000 payable in 10 annual installments of $421,500, plus interest at the rate of 10%. During 2020, Monty made deposit and progress payments totaling $1,580,625 under the contract; the weighted-average amount of accumulated expenditures was $843,000 for the year. The excess borrowed funds were invested in short-term securities, from which Monty realized investment income of $256,400. What amount should Monty report as capitalized interest at December 31, 2020?
They expect to have 800 patients per year with the van. It will cost $3000 per year to maintain the vehicle, which includes all relevant costs. How much will the WCHC need in foundation grants this year to make the purchase break-even financially
What are the possible negative ramifications of this plan? Is it ethical to recognize the revenue early in this plan? Why or why not?
Explain why the process of reporting to external users is subjected to more rules and regulations compared to the process of reporting to internal users.
the following transactions occurred during julya. received 1900 cash for services provided to a customer during july.b.
What were the current ratios for 12/31/19 and 12/31/18 for each of the two companies? Compare the two companies' liquidity for each of the two year-end dates
B Company's contribution margin, what is the degree of financial leverage if the interest expense is P2,000 and preference dividends declared is P1,500
Assuming selling prices and costs remain the same as for 2015 calculate the number of lessons that are required to be sold in 2016 to break even.
Question - What are the fundamental accounting principles? Explain in detail. Also justify the "accounting as an ON GOING CONCERN"
Finlon Upholstery Inc. uses a job-order costing system to accumulate manufacturing costs. The company's work-in-process on December 31, 2001, consisted of one job (no. 2077), which was carried on the year-end balance sheet at $156,800. There was n..
He could purchase new computer with same specifications for $1,800, but his used computer is worth only $1,100. What is his computer's basis for depreciation
The inventory cost for Product A is $5.00 per unit. Instructions: Prepare the journal entries for Comnie to record this transaction: When sale is made on March
Prepare the cash flows from operations section of Preston Company's 2016 statement of cash flows
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