Seasons construction is constructing an office building under contract for cannon company and uses the percentage-of-completion method. the contract calls for progress billings and payments of $1,550,000 each quarter. the total contract price is $18,600,000 and seasons estimates total costs of $17,750,000. seasons estimates that the building will take 3 years to complete, and commences construction on january 2, 2018. 18). seasons construction completes the remaining 25% of the building construction on december 31, 2020, as scheduled. at that time the total costs of construction are $18,750,000.

what is the total amount of revenue from long-term contracts and construction expenses that seasons will recognize for the year ended december 31, 2020?

revenue expenses

(a) $18,600,000 $18,750,000

(b) $4,650,000 $ 4,687,500

(c) $4,650,000 $ 5,250,000

(d) $4,687,500 $ 4,687,500

Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances

Bayside coatings company purchased waterproofing equipment on january 2, 20y4, for $190,000. the equipment was expected to have a useful life of four years and a residual value of $9,000. instructions: determine the amount of depreciation expense for the years ended december 31, 20y4, 20y5, 20y6, and 20y7, by (a) the straight-line method and (b) the double-declining-balance method. also determine the total depreciation expense for the four years by each method. depreciation expense year straight-line method double-declining-balance method 20y4 $ $ 20y5 20y6 20y7 total $

What is an equation of the line in slope intercept formm = 4 and the y-intercept is (0,5)y = 4x-5y = -5x +4y = 4x + 5y = 5x +4