Red builders agrees to construct a new building for blue co. for a total contract price of $6,000,000. the estimated construction costs at inception was $4,000,000. the construction project was completed after two years. below are the actual costs for years 1 and 2: descriptioncumulative year 1year 2cost incurred to date1,200,0002,500,000estimated additional costs to complete3,600,0002,100,000billings1 ,050,0002,300,000cash collections1,000,0001,900,000 red has determined that this contract qualifies for revenue recognition over time (as opposed to upon completion). as a result, red builders should have recognized profit at the end of year 1 in the amount of:

$300,000

Explanation:

Total expected costs = cost incurred to date + estimated cost to complete

                                   = 1,200,000 + 3,600,000

                                   = 4,800,000

                                                 = 0.25

                                                 = 25%

Profit = contract revenue - Total expected costs

         = $6,000,000 - 4,800,000

         = $1,200,000

Cumulative gross profit = Profit × Percentage of completion

                                       = $1,200,000 × 0.25

                                       = $300,000

Therefore, Red Builders should have recognized profit at the end of year 1 in the amount of $300,000.

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.  

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"