Kechara corp. started a long-term construction project on a customer’s land in year 1. the following data relate to this project: contract price $4,200,000 costs incurred in year 1 1,750,000 estimated costs to complete 1,750,000 amounts billed 900,000 collections on amounts billed 800,000 the project is accounted for using the input method based on costs incurred to measure progress toward completion of the contract. in kechara’s year 1 income statement, what amount of gross profit should be reported for this project?

Which change is illustrated by the shift taking place on this graph? a decrease in supply an increase in supply o an increase in demand o a decrease in demand

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate. the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received. c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.

Paying attention to the purpose of her speech, which questions can she eliminate? a. 1 and 2 b. 3 c. 2 and 4 d. 1-4