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Question - A new skating rink is going to be built in the village of Nobel for $5.2 million. Rayne Inc. was awarded the contract, which calls for construction to begin in March 20X5 and be completed by November 30, 20X6. If the skating rink is completed early, a performance bonus will be awarded. The bonus payment varies depending on how early the skating rink can be completed. Rayne's estimated probability of completing construction by those dates is as follows: Potential completion date Bonus payment Estimated probability August 31, 20X6 $250,000 10% September 30, 20X6 $200,000 15% October 31, 20X6 $100,000 35% November 30, 20X6 Nil 30% December 1, 20X6, or later Nil 10% Rayne uses expected value techniques to estimate the variable consideration.
Required - What transaction price should the company use to recognize revenues for this contract?
a) $5,200,000
b) $5,235,000
c) $5,290,000
d) $5,300,000
Determine the materials price and quantity variances and the labor rate and efficiency variances. Compute the materials price and quantity variances for month.
What is the relevant per unit cost for the original part, Which alternative is best for Lewis Auto Company
ACCT5384C Assignment. You are required to complete a master budget for FOPPI for the quarter ending December 2016, this will include the following budgets. Sales budget detailing sales for the months of the quarter along with the total for the quart..
1. should preferred stock be recognized as a liability as a liabiity or should it be considered equity? defend your
what are the three categories of sfas 115? how do we treat unrealized gains and losses under each method? after that
Question - Record the journal entries for the following events. Feb. 22 The client you shipped the products to yesterday returns one of the programs
At a sales volume of 37,000 units, Maks Corporation's property taxes (a cost that is fixed with respect to sales volume) total $802,900. 55. 115.
What requirements must be met for property to qualify for like-kind exchange treatment? How are like-kind exchanges treated under the federal income tax laws?
HD determined that it was more likely than not that 30% of the deferred tax asset ultimately would not be realized. HD made no estimated tax payments during 2009. What amount should HD report as income tax expense in its 2009 income statement?
deer valley lodge a ski resort in the wasatch mountains of utah has plans to eventually add five new chairlifts.
Make corrections and adjustments to income statement and balance sheet.
Prepare a 1,050-word paper addressing the Explain why equilibrium of supply and demand is desirable. Explain the following concepts using the concept of consumer and producer surplus.
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