Summary data for Benedict Construction Co.'s (BCC) Job 1227, which was completed in 2021, are presented below: Bid price $ 450,000 Contract cost: 2020 (180,000) 2021 (195,000) Gross profit: 75,000 Estimated cost to complete: 12/31/2020 $ 200,000 12/31/2021 0 Assuming BCC recognizes revenue over time according to percentage of completion for this contract, the gross profit recognized in 2020 would be (rounded to the nearest thousand) :
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Summary data for Benedict Construction Co.'s (BCC) Job 1227, which was completed in 2021, are presented below: Bid price $ 450,000 Contract ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Kroger Supermarkets changes its ads constantly to describe new products it has for sale and different price specials it offers.
Answers (1)
Accounting 5.) In the chart of accounts, the balance sheet accounts are normally listed in which order? A.) stockholders' equity, assets, liabilities B.) liabilities, assets, stockholders' equity C.) assets, liabilities, stockholders' equity D.
Answers (1)
g One difference between total utility and marginal utility is that Select one: a. total utility is cumulative, and marginal utility is not. b. total utility measures happiness and marginal utility measures unhappiness c.
Answers (1)
Because of a recent job promotion, Jo-Anne needed to find a place to live in the city quickly. She agreed to purchase via phone a 2,000 sq. ft. apartment located a few blocks from her new office.
Answers (1)
All the members of the sales team at Arkema are new hires. The team members need to work together to ensure that clients' requirements are fulfilled, and weekly targets set by the company are adequately met.
Answers (1)
New Questions in Business
An individual who make and sell goods and services are?
Answers (1)
Rhiannon Corporation has bonds on the market with 13.5 years to maturity, a YTM of 7.4 percent, a par value of $1,000, and a current price of $1,059. The bonds make semiannual payments. What must the coupon rate be on these bonds?
Answers (1)
Georgia Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Georgia Corp Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Increase / (Decrease) Cash
Answers (1)
Cayo Casta Cabins Corporation recently purchased Ship Island Resort and Casino and the land on which it is located with the plan to tear down the resort and build a new luxury hotel on the site.
Answers (1)
A current liability is a debt that can reasonably be expected to be paid between 6 months and 18 months. out of currently recognized revenues. out of cash currently on hand. within one year, or the operating cycle, whichever is longer.
Answers (1)