Business, 01.02.2021 22:10, chrisroth2924

Indiana Co. began a construction project in 2018 with a contract price of $160 million to be received when the project is completed in 2020. During 2018, Indiana incurred $39 million of costs and estimates an additional $83 million of costs to complete the project. Indiana recognizes revenue over time and for this project recognizes revenue over time according to the percentage of the project that has been completed. A. Recognized no gross profit or loss on the project in 2018.
B. Recognized $12.37 million gross profit on the project in 2018.
C. Recognized $78.00 million loss on the project in 2018.
D. Recognized $39.00 million loss on the project in 2018.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 20:30, kaelah6846

Which of the following best describes a fractional reserve banking system? a. a banking system in which a large portion of the bank's assets are digital money rather than bills and coins. b. a banking system in which banks keep a portion of deposits on hand to satisfy their customer's demands for withdrawals. c. a banking system in which banks have only partial control over the interest rates they charge on loans. d. a banking system in which net worth is calculated by subtracting a fraction of liabilities from assets. 2b2t

Answers: 3

continue

Business, 22.06.2019 03:00, bettybales1986

If you were running a company, what are at least two things you could do to improve its productivity.

Answers: 1

continue

Business, 22.06.2019 16:00, hany90

Arnold rossiter is a 40-year-old employee of the barrington company who will retire at age 60 and expects to live to age 75. the firm has promised a retirement income of $20,000 at the end of each year following retirement until death. the firm's pension fund is expected to earn 7 percent annually on its assets and the firm uses 7% to discount pension benefits. what is barrington's annual pension contribution to the nearest dollar for mr. rossiter? (assume certainty and end-of-year cash flows.)

Answers: 2

continue

Business, 23.06.2019 01:00, ayowazzzgood

Motonous corporation has completed its fiscal year and reported the following information. the company had current assets of $153,413, net fixed assets of $ 412,331, and other assets of $7,822. the firm also has current liabilities worth $65,314, long-term debt of $178,334, and common stock of $162,000. how much retained earnings does the firm have?

Answers: 2

continue

Do you know the correct answer?

Indiana Co. began a construction project in 2018 with a contract price of $160 million to be receive...