Question 4 (1 point) Spilker Construction Company had a contract starting April 2023, to construct a $34,500,000 building that is expected to be completed in September 2025, at an estimated cost of $28,570,000. At the end of 2023, the costs to date were $9,250,000 and the estimated total costs to complete had not changed. The progress billings during 2023 were $8,505,000 and the cash collected during 2023 was 4,500,000. The company uses the percentage-of-completion method. At December 31, 2023 Spilker would report Revenue from Long-Term Contracts in the amount of: a) $11,169,933 b) $1,919,933 c) $9,250,000 d) $5,930,000 Question 5 (1 point) Rizzo, Inc. is constructing a building for a client. The company began work in 2023 on a contract for $24,350,000. Other data are as follows: 2023 2024 Costs incurred to date $15,000,000 $23,000,000 Estimated costs to 7,500,000 complete Billings to date 8,000,000 24,350,000 Collections to date 6,500,000 22,500,000 Rizzo uses the percentage-of-completion method, what gross profit should the company recognize in 2023? a) $1,233,333 b) $9,350,000 c) $1,850,000 d) $0.00 Question 6 (1 point) On January 1, 2024, Alzolay Co. had 275,000 shares of common stock oustanding. The following transactions took place during 2024. 1. March 1, 2024, Alzolay Co. issued an 100,000 common stock shares. 2. On May 1, 2024, the company purchased back 85,000 common stock shares. 3. On August 1, 2024, the company issues 50,000 common stock shares. What are the weighted average number of shares oustanding for 2024? (Round the calculations/weighted amounts to 2 decimal places.) a) 275,000 b) The correct answer is not listed. c) 325,800 d) 340,000 Question 7 (1 point) Baez Corp. began operations on Jan. 1, 2023. Baez Corp. is authorized to issue 150,000 shares of it's 6%, $40 par value preferred stock. The company is authorized to issue 650,000 shares of the common stock with a par value of $2 per share. On January 5, 2023, the company issued 225,000 shares of common stock for cash at $13 per share. What is the journal entry to record the issuance of the common stock shares? a) Cash 8,450,000 Common Stock Paid-in Capital in Excess of Par Value - Common Stock 1,300,000 7,150,000 Cash b) 2,925,000 Common Stock Paid-in Capital in Excess of Par Value - Common Stock 450,000 2,475,000 O 450,000 Cash Common Stock 450,000 2,925,000 d) Cash Common Stock 2,925,000 Question 8 (1 point) During 2024, Arrieta Corporation issues stock options to an employee. In the next
