Assume Estate Construction is constructing a building for CyberB, an online retailing company. Under the construction agreement,
Question:
Assume Estate Construction is constructing a building for CyberB, an online retailing company. Under the construction agreement, if for some reason Estate could not complete construction, CyberB would own the partially completed building and could retain another construction company to complete the job. When should Estate recognize revenue, as the building is constructed or after construction is completed? Explain your answer.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (18 reviews)
A performance obligation is satisfied over time if at least one of two criteria is met 1 The seller ...View the full answer
Answered By
Cyrus Sandoval
I a web and systems developer with a vast array of knowledge in many different front end and back end languages, responsive frameworks, databases, and best code practices. My objective is simply to be the best web developer that i can be and to contribute to the technology industry all that i know and i can do. My skills include:
- Front end languages: css, HTML, Javascript, XML
- Frameworks: Angular, Jquery, Bootstrap, Jasmine, Mocha
- Back End Languages: Java, Javascript, PHP,kotlin
- Databases: MySQL, PostegreSQL, Mongo, Cassandra
- Tools: Atom, Aptana, Eclipse, Android Studio, Notepad++, Netbeans.
Having a degree in Computer Science enabled me to deeply learn most of the things regarding programming, and i believe that my understanding of problem solving and complex algorithms are also skills that have and will continue to contribute to my overall success as a developer.
I’ve worked on countless freelance projects and have been involved with a handful of notable startups. Also while freelancing I was involved in doing other IT tasks requiring the use of computers from working with data, content creation and transcription.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
Question Posted:
Students also viewed these Accounting questions
-
On 15 September 2020, Tammy purchased from CC two tickets to the Ed Shearer concert in Brisbane on 07 January 2021. The reality is that as at 15 September 2020, due to the current COVID 19 pandemic,...
-
The Snowbird Company is constructing a building that qualifies for interest capitalization. It is built between January 1 and December 31, 2007. Expenditures, which occur evenly throughout the year,...
-
1. Cole Co. began constructing a building for its own use in January 2011. During 2011, Cole incurred interest of $50,000 on specific construction debt and $20,000 on other borrowings. The amount of...
-
Bob was waiting at the crosswalk for the light to turn green. As he stood there, a car that was stopped in the road next to him suddenly exploded, and Bob was injured by the blast. A defect in the...
-
Read Weil v. Retirment Plan Administrative Committee, 55 AFTR2d 85-404; 1985-1 USTC 9164 and address the following questions: a. What court decided the case? b. What are the material facts? What...
-
Perform a two-way ANOVA to jointly assess the effects of preparation and follow-up time on plasma-carotene levels. Is there any evidence that the effect of preparation differs by time period? Table...
-
How common is HIV infection? Researchers from Yale University, working with medical teams in Tanzania, wanted to know how common infection with the AIDS virus is among pregnant women in that African...
-
An airline company is interested in the opinions of their frequent flyer customers about their proposed new routes. Specifically they want to know what proportion of them plan to use one of their new...
-
You are going to receive $201,000 in 25 years. What is the difference in present value between using a discount rate of 8 percent versus 4 percent? Use Appendix B as an approximate answer, but...
-
The following trial balance of Sergei Asbrecht Co. does not balance. Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the...
-
Sarjit Systems sold software to a customer for $90,000. As part of the contract, Sarjit promises to provide free technical support over the following six months. Sarjit sells the same software...
-
Patterson, Inc. receives a $10,000 payment two years in advance of delivering a completed novel. A five percent interest rate applies. How much revenue would Patterson recognize associated with...
-
a. What event sent the worlds stock prices down on September 8, 2011? b. What feature of the financial markets translated the event into a stock price fall? c. How did the global loanable funds...
-
how is lateral force(fy) determined from this data Tyre Responses 1 1 1 1 1 1.3 1.3 1.3 1.3 1.3 1.6 1.55 1.45 1.27 1.1 Fz (N) 0 400 800 1200 1500 Slip Angle (deg) Fy1 (N) Fy2 (N) Fy3 (N) 0.0 0 0 0.5...
-
(13%) Problem 8: A wire is oscillated to create a wave of the form y(x,t) = Asin(x - 30t) == The wave is reflected from a fixed end producing a reflection of the form y2(x,t) = A sin(x + 30t) The two...
-
Using the definitions of even integer and odd integer, give a proof by contraposition that this statement is true for all integers n: If 5n+3 is even, then n is odd.
-
7. Design the formwork for a wall 8-ft (2.44-m) high to be poured at the rate of 5 ft/h (1.53 m/h) at a temperature of 77F (25C). The concrete mixture will use Type I cement without retarders and is...
-
tempt in Progress The City of Minden entered into the following transactions during the year 2026. 1. A bond issue was authorized by vote to provide funds for the construction of a new municipal...
-
Operating Activities SectionIndirect Method The following account balances for the noncash current assets and current liabilities of Suffolk Company are available: Net income for 2008 is $40,000....
-
The figure shows six containers, each of which is filled from the top. Assume that water is poured into the containers at a constant rate and each container is filled in 10 seconds. Assume also that...
-
In Figure 1, if you want to produce an output of 100, in the long run you will choose a plant whose size is represented by _______. a) ATC 1 b) ATC 2 c) ATC 3 d) ATC 4 e) ATC 5 Cost ($) Figure 1 100...
-
At December 31, 2010, Percheron Inc. had a deferred tax asset of $30,000. At December 31, 2011, the deferred tax asset is $59,000. The corporations 2011 current tax expense is $61,000. What amount...
-
At December 31, 2010, Hill yard Corporation has a deferred tax asset of $200,000. After a careful review of all available evidence, it is determined that it is more likely than not that $60,000 of...
-
Mitchell Corporation had income before income taxes of $195,000 in 2010. Mitchells current income tax expense is $48,000, and deferred income tax expense is $30,000. Prepare Mitchells 2010 income...
-
Chapter o Homew ebook 50,000-unit production quantity: $ 227,049 7 70,000-unit production quantity: $ 66,751 d. In addition to mean profit, what other factors should FTC consider in determining a...
-
Diamond makes downhill ski equipment. Assume that comic has offered to produce ski poles for Diamond for $20 per pair Diamond needs 200,000 pairs of poles per period Diamond can only avoid 5150,000...
-
17? Which of the following statement is true Select one: a. All evidence must have the same level of reliability b. All evidence must have the same level of persuasiveness C. All are false d....
Study smarter with the SolutionInn App