Kingbird Corp. enters into a contract with a customer to build an apartment building for $921,300. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $156,000 to be paid if the building is ready for rental beginning August 1, 2021. The bonus is reduced by $52,000 each week that completion is delayed. Kingbird commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes:

Completed by Probability
August 1, 2018 70%
August 8, 2018 20
August 15, 2018 4
After August 15, 2018 6

a. Determine the transaction price for the contract, assuming Waterway is only able to estimate whether the building can be completed by August 1, 2018, or not (Waterway estimates that there is a 70% chance that the building will be completed by August 1, 2018).
b. Determine the transaction price for the contract, assuming Waterway has limited information with which to develop a reliable estimate of completion by the August 1, 2018, deadline.

The balance sheet contains the following major sections: current assets long-term investments property, plant, and equipment intangible assets other assets current liabilities long-term liabilities contributed capital retained earnings accumulated other comprehensive income required: the following is a list of accounts. using the letters a through j, indicate in which section of the balance sheet each of the accounts would be classified. if an account does not belong under one of the sections listed, select "not under any of the choices" from the classification drop down box. for all accounts, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet by selecting "yes" from the second drop down box, otherwise select "no". account classification contra or deducted (yes/no) 1. cash 2. bonds payable (due in 8 years) 3. machinery 4. deficit 5. unexpired insurance 6. franchise (net) 7. fund to retire preferred stock 8. current portion of mortgage payable 9. accumulated depreciation 10. copyrights 11. investment in held-to-maturity bonds 12. allowance for doubtful accounts 13. notes receivable (due in 3 years) 14. property taxes payable 15. deferred taxes payable 16. additional paid-in capital on preferred stock 17. premium on bonds payable (due in 8 years) 18. work in process 19. common stock, $1 par 20. land 21. treasury stock (at cost) 22. unrealized increase in value of available-for-sale securities

Suppose the number of equipment sales and service contracts that a store sold during the last six (6) months for treadmills and exercise bikes was as follows: treadmill exercise bike total sold 185 123 service contracts 67 55 the store can only sell a service contract on a new piece of equipment. of the 185 treadmills sold, 67 included a service contract and 118 did not.

Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate