Business, 05.05.2020 21:30 hailey2910
Pharoah Constructors, Inc. has consistently used the percentage-of-completion method of recognizing income. In 2021, Pharoah started work on a $54880000 construction contract that was completed in 2022. The following information was taken from Pharoah's 2021 accounting records: Progress billings $17248000 Costs incurred 16464000 Collections 10752000 Estimated costs to complete 32928000 What amount of gross profit should Pharoah have recognized in 2021 on this contract
Answers: 3
Business, 22.06.2019 09:30
Any point on a country's production possibilities frontier represents a combination of two goods that an economy:
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Business, 22.06.2019 11:00
Samantha is interested in setting up her own accounting firm and wants to specialize in the area of accounting that has experienced the most significant growth in recent years. which area of accounting should she choose as her specialty? samantha should choose as her specialty.
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Business, 22.06.2019 12:50
Kyle and alyssa paid $1,000 and $4,000 in qualifying expenses for their two daughters jane and jill, respectively, to attend the university of california. jane is a sophomore and jill is a freshman. kyle and alyssa's agi is $135,000 and they file a joint return. what is their allowable american opportunity tax credit after the credit phase-out based on agi is taken into account?
Answers: 1
Business, 22.06.2019 15:20
Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.
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Pharoah Constructors, Inc. has consistently used the percentage-of-completion method of recognizing...
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