ACCOUNTING HELP

l 15 ]Comprehensive income is best defined as A. Net income excluding discontinued operations. distributions to B. The change in net assets for the period including contributions by owners and C. Total revenues minus total expenses. D. The change in net assets for the period excluding owner transactions. 16 Tullis Construction enters into a long-term fixed price contract to build an office tower for $10,000,000. In the first year of the contract Tullisincurs s3,000,000 and the engineers determined that the remaining costs to complete are $5,000,000. Tullis billed $4,000,000 in year 1 and collected s3,500,000 by the end of the end of the year. Refer to Tullis Construction. How much gross profit should Tullis recognize in Year 1 assuming the use of the percentage-of-completion method? A) B) $750,000 C) $2,000,000 D) $2,500,000 31, Year 1, Kale Co. had the following balances in the accounts it maintains at First State Bank: $175,000 Checking account #101 Checking account #201 25,000 Money market account 90-day certificate of deposit due 2/28Yr 2 50,000 180-day certificate of deposit due 3/15Yr 2 80,000 less as cash equivalents. In i Kale classifies investments with original maturities of 3 months or December 31, Year 1, balance sheet, what amount should Kale report as cash and cash equivalents? A. $190,000 B. $200,000 C. $240,000 D. $320,000