Long-Term Construction Contracts 163 CHAPTER 10 MULTIPLE CHOICE ANSWERS AND SOLUTIONS 10-1: a Percentage of Completion Method: Contract Price P1‚000‚000 Less: Total estimated cost Cost incurred P 200‚000 Estimated remaining cost _400‚000 __600‚000 Gross profit estimated 400‚000 % of completion (200‚000/600‚000) __33 1/3% Gross profit to be recognized P 133‚333 Zero Profit Method: 0 10-2: a P100‚000 2007 2008 Contract Price P9
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BUS-A 328 Fall 2013 – Chapter 5 classwork 27. Otto and Fiona are negotiating the terms of their divorce. Otto has agreed to transfer property to Fiona over the next two years‚ but he has reserved the right to make cash payments in lieu of property transfers. Will tax considerations play a role in Otto’s decision to transfer property or pay cash? How will Otto’s choice affect the combined gross income and income taxes paid by Otto and Fiona? Explain. Under the proper conditions (under a written
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CHAPTER 12 Statement of Cash Flows Study Objectives 1. Indicate the usefulness of the statement of cash flows. 2. Distinguish among operating‚ investing‚ and financing activities. 3. Explain the impact of the product life cycle on a company’s cash flows. 4. Prepare a statement of cash flows using the indirect method. 5. Use the statement of cash flows to evaluate a company. *6. Prepare a statement of cash flows using the direct method. Summary of Questions by Study Objectives
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first sentence of the very first paragraph of the paper and this section should give the answer to the question‚ don ’t make your reader hunt for it. Explain why this answer is meaningful or useful. 2. Definition - This section defines the managerial question to be analyzed. It also identifies the possible opportunities and alternatives being evaluated. 3. Factors or Costs - This section describes and identifies factors or costs that will influence the analysis of the questions. This section
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The boys without authority had been introduced to the darker side of the children’s mind while being on this mysterious island that they crash landed on and had no adults only themselves. While being stranded on this island the boys do whatever they want since there are no adults to guide them‚ they turn on each other and also get themselves in violence situations. Once the violence began they started spreading apart‚ and they didn’t stick together as one. At this time the boys are thinking that
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Dalron Pedro 11 HZ Accounting Report: Control of Fixed Assets Due date: 16 February 2015 Question 1 The drivers carry a full load of goods to Johannesburg but return empty to Durban. Are the drivers receiving a fair remuneration (wage) for work done? Motivate by using calculations. Answer Drivers are not getting a fair remuneration. Drivers are paid per trip and not per hour or days’ work. Drivers are not paid the same amount for the same trip‚ from Durban
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information derived in part A to calculate total revenues at prices in $1 increments from $5 to $15 per ticket. What is the revenue-maximizing ticket price? If variable costs are negligible‚ is this amount also the profit-maximizing ticket price? P2.6 SOLUTION A. When a linear demand curve is written as: P = a + bQ a is the intercept and b is the slope coefficient. Because 3‚200 seats were sold at a regular price of $12 per game‚ and 5‚200 seats were sold at the discount price of
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1) a- Yes‚ P may recover‚ as this is a breach of the contract. P‚ in agreeing to accept the pension‚ forfeited his rights to take another job in the industry. This is a legal detriment to P‚ the promisee – one which did not exist prior to the formation of the contract. b- This is not enforceable. This is an example of past consideration‚ which is not consideration. P had already rendered the service at the time the company’s promise was made. In other words‚ the service was not induced by or given
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74. b) Select one example of a physical change from your table‚ and explain why it has a physical change. Step number one where “A coarse screen made of metal bars filters large particles and trash‚ such as bottles and cans.” This would be considered a physical change because there is no chemical process taking place. As well you are able to see a physical change in the water due to trash and debris being filtered out by nothing more then a screen. This screen is doing nothing more other then
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The case study continues on page 456‚ at the back of Chapter 11. Read the case description and specifications and complete the tasks listed on pages 456-457. Use the discussion area to discuss the tasks with your fellow students. You can use the discussion area for brainstorming‚ verify your understanding of the task requirements and direction to take in coming up with a solution to the tasks. Each of you is required to submit a solution to the assigned tasks. You can assimilate whatever you
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