Business, 24.10.2019 16:43, navleen4owjrk1
Assume nortel networks contracted to provide a customer with internet infrastructure for $2,550,000. the project began in 2021 and was completed in 2022. data relating to the contract are summarized below: 2021 2022 costs incurred during the year $ 344,000 $ 1,960,000 estimated costs to complete as of 12/31 1,376,000 0 billings during the year 456,000 1,730,000 cash collections during the year 381,000 1,805,000 required: 1. compute the amount of revenue and gross profit or loss to be recognized in 2021 and 2022 assuming nortel recognizes revenue over time according to percentage of completion. 2. compute the amount of revenue and gross profit or loss to be recognized in 2021 and 2022 assuming this project does not qualify for revenue recognition over time. 3. prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2021 assuming nortel recognizes revenue over time according to percentage of completion. 4. prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2021 assuming this project does not qualify for revenue recognition over time. prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2021 assuming nortel recognizes revenue over time according to percentage of completion.
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Business, 21.06.2019 21:00, live4dramaoy0yf9
In addition to having a bachelor's degree in accounting, a certification will increase a tax accountant's job opportunities and allow them to file reports with the
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Business, 21.06.2019 21:20, nonispn606
20. sinclair company's single product has a selling price of $25 per unit. last year the company reported a profit of $20,000 and variable expenses totaling $180,000. the product has a 40% contribution margin ratio. because of competition, sinclair company will be forced in the current year to reduce its selling price by $2 per unit. how many units must be sold in the current year to earn the same profit as was earned last year? a. 15,000 units b. 12,000 units c. 16,500 units d. 12,960 units
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Assume nortel networks contracted to provide a customer with internet infrastructure for $2,550,000....
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