Indiana Co. began a construction project in 2016 with a contract price of $150 million to be received when the project is completed in 2018. During 2016, Indiana incurred $36 million of costs and estimates an additional $84 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. Indiana:
A. Recognized no gross profit or loss on the project in 2016.
B. Recognized $6 million loss on the project in 2016.
C. Recognized $9 million gross profit on the project in 2016.
D. Recognized $36 million loss on the project in 2016.
Answers: 2
Other questions on the subject: Business
Business, 22.06.2019 16:00, ella3714
Three pounds of material a are required for each unit produced. the company has a policy of maintaining a stock of material a on hand at the end of each quarter equal to 30% of the next quarter's production needs for material a. a total of 35,000 pounds of material a are on hand to start the year. budgeted purchases of material a for the second quarter would be:
Answers: 1
Business, 22.06.2019 17:30, dani4685
One of your new suppliers, kim, has been hearing rumors about your firm’s lack of capability to deliver high quality products and writes an email asking you to address the claims being made. in replying to her, you want to be sure that you are very clear and leave no room for misinterpretation. which of the following aspects of effective communication should you give the most attention? (a) making sure you understand kim’s areas of expertise. (b) supporting your reply with relevant data and facts. (c) establishing your credibility as an expert. (d) paying attention to implied communications.
Answers: 2
Business, 22.06.2019 20:00, wallsdeandre6927
Richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.
Answers: 3
Business, 22.06.2019 22:00, kyle65
Anheuser-busch inbev is considering you for an entry-level brand management position. you have been asked to prepare an analysis of the u. s. craft beer industry as part of the selection process. prepare a 3-5 page report that includes a description of the industry’s strategically relevant macro-environmental components, evaluates competition in the industry, assesses drivers of change and industry dynamics, and lists industry key success factors. the company’s management also asks that you propose the basic elements of a strategic action plan that will allow the company to improve its competitive position in the market for craft beer. you must provide a heading in your report for each of the required elements of the assignment.
Answers: 3
You know the right answer?
Indiana Co. began a construction project in 2016 with a contract price of $150 million to be receive...
Questions in other subjects:
Mathematics, 27.04.2021 18:20
Mathematics, 27.04.2021 18:20
Advanced Placement (AP), 27.04.2021 18:20
Chemistry, 27.04.2021 18:20
