Long-Term Construction Contracts 163 CHAPTER 10 MULTIPLE CHOICE ANSWERS AND SOLUTIONS 10-1: a Percentage of Completion Method: Contract Price P1‚000‚000 Less: Total estimated cost Cost incurred P 200‚000 Estimated remaining cost _400‚000 __600‚000 Gross profit estimated 400‚000 % of completion (200‚000/600‚000) __33 1/3% Gross profit to be recognized P 133‚333 Zero Profit Method: 0 10-2: a P100‚000 2007 2008 Contract Price P9
Premium Generally Accepted Accounting Principles Costs Accounts receivable
CHAPTER 12 MULTIPLE CHOICE 12-1: d. This is recorded when the working fund is replenished. 12-2: c. Sales P 700‚000 Cost of goods sold: Purchases P800‚000 Merchandise inventory‚ end 180‚000 620‚000 Gross profit P 80‚000 Expenses 198‚000 Net income (loss) P (118‚000) 12-3: b Sales P 70‚000 Cost of goods sold (P70‚000 / 140%) 50‚000 Gross profit P 20‚000 Less: Samples (P8‚000 – P6‚000) P
Premium Generally Accepted Accounting Principles Balance sheet
THERMAL DAIRY By Carlos Val Background 2 In order to achieve a better understanding of the concept of Adaptive Thermal comfort I have recorded my thermal sensation by an hour intervals during a week. At this time‚ the relative humidity and temperature of my surrounding environment was been recorded by a sensor carried by me at all the time‚ every 900seconds. Background 3 A further thermal study of my living space was developed at the same time but carried out for a longer period
Premium Relative humidity Humidity Temperature
------------------------------------------------- Tenses in writing Verb tenses tell readers when events or actions occured in time—in the past‚ present‚ or future. Your verb choices can also indicate aspect‚ which expresses the completeness or effects of an action. Verb Tenses The present tense is used to express anything that is happening now or occurring in the present moment. The present also communicates actions that are ongoing‚ constant‚ or habitual. For example: I’m working on an essay
Premium Past tense Grammatical tenses Grammatical tense
Reorganization and Troubled Debt Restructuring 135 CHAPTER 8 MULTIPLE CHOICE ANSWERS AND SOLUTIONS 8-1: a Trade accounts payable (P52‚000 + P62‚700) P114‚700 12% preferred stock (5‚000 x P1) P 5‚000 Paid in capital in excess of par (5‚000 x P9) 45‚000 Cash (P62‚700 x P0.80) _50‚160 _100‚160 Gain from discharge of indebtedness P 14‚540 8-2: c 8-3: c 8-4: b Carrying value of the
Premium Generally Accepted Accounting Principles Balance sheet Liability
Acquisition of legal subsidiary in bankruptcy According to the fact of this case‚ Parent Co. (Parent) wholly owns Poor Son Co. (Poor Son) as a legal subsidiary‚ and both of them all nonpublic companies. However‚ in January 2007 Poor Son filed a voluntary bankruptcy under Chapter 11 of the U.S. bankruptcy code because of its inability of meet obligations as they became due. Then‚ Parent claimed the loss of control of Poor Son and deconsolidated Poor Son from its financial statement. Through the
Premium Corporation Business Goodwill
Do corporate social responsibility (CSR) reports provide shareholders and stakeholders with useful information on corporate social and environmental performance or are they merely a public relations vehicle? Answer this question by reference to a variety of accounting theories. There are many definitions to Corporate Social responsibility(CSR). One most common definition is that CSR is the consideration and response of the firm to issues that are beyond the regular technical‚ legal‚ and environmental
Premium Corporate social responsibility Social responsibility Stakeholder
CHAPTER 1 Partnership Formation and Operations EXERCISES Exercise 1 –1 |1.a |Campos‚ Capital |14‚000 | | | | Allowance for Uncollectible Accounts | |14‚000 | | | | | | |
Premium Generally Accepted Accounting Principles Balance sheet Accounts receivable
[pic] Profile » Overview Tata Advanced Systems (TASL) was set up in 2007 as a vehicle to extend the Tata group’s business operations to the national security and defence sector. TASL is a wholly-owned subsidiary of Tata Sons. The company’s objective is to unify competencies and create capabilities across Tata group companies in order to provide integrated solutions and critical technologies in the areas of defence‚ homeland security‚ offset business and disaster management. TASL is a key
Premium Lockheed Martin Subsidiary Tata Group
Prior to the war of 1812‚ the United States was riddled with domestic political conflicts between the Federalist and Republican parties and diplomatic conflicts with Britain and France. The Federalist and Republicans’ opinions differed in every subject and diplomatic policies against Britain and France divided the nation. At one point‚ disunion was so apparent that during the Hartford Convention in 1814‚ New England almost seceded from the Union. After the war of 1812‚ from 1815 to 1825‚ some Historians
Premium John Quincy Adams United States Henry Clay