In 2018, long construction corporation began construction work under a three-year contract. the contract price is $2,400,000. long recognizes revenue over time according to percentage of completion for financial reporting purposes. the financial statement presentation relating to this contract at december 31, 2018, is as follows: balance sheet accounts receivable (from construction progress billings) $ 38,000 construction in progress $ 160,000 less: billings on construction contract (150,000 ) cost and profit of uncompleted contracts in excess of billings 10,000 income statement income (before tax) on the contract recognized in 2018 $ 28,000 required: 1. what was the cost of construction actually incurred in 2018? 2. how much cash was collected in 2018 on this contract? 3. what was the estimated cost to complete as of the end of 2018? 4. what was the estimated percentage of completion used to calculate revenue in 2018?

Gerda, a real estate agent, is selling a moderately priced house in a subdivision. she knows from her uncle that the factory being built half a mile from the subdivision will be manufacturing dog food, using a process that creates a very strong odor that permeates the surrounding neighborhood. a buyer, who is unaware of the type of factory under construction, makes an offer on one of the houses gerda is selling, and within a short time, the deal goes through. what does this scenario best illustrate?

Suppose portugal has 700 workers and 26,000 units of capital, and france has 18,000 workers and 700 units of capital. technology is identical in both countries. assume that wine is the capital-intensive good and cloth is the labor-intensive good. which of the following statements is correct if the nations start trading with each other? a) wages will increase in portugal.b) rental rates in france will increase.c) wages in france will decrease.d) rental rates in portugal will increase.

1. list five staple convenience goods that you or your household buys on a regular basis. (you do not need to use complete sentences. 2.5 points) 2. list three impulse convenience goods that you or someone you know has purchased. (you do not need to use complete sentences. 2.5 points) 3. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-5 sentences. 3.0 points) 4. choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, llc, c corporation, s corporation, or nonprofit corporation). explain why this structure would be good for this type of company. give at least 3 reasons. (3-6 sentences. 6.0 points) 5. if you were starting a new business, describe at least three departments to the company that you would need right away. why are these departments so important? (1-5 sentences. 3.0 points) 6. describe a product that you think has saturated its market. what makes you think it has saturated its market? (1-5 sentences. 3.0 points)