g A construction company entered into a fixed-price contract to build an office building for $30 million. Construction costs incurred during the first year were $10 million and estimated costs to complete at the end of the year were $15 million. During the first year the company billed its customer $11 million, of which $3 million was collected before year-end. What would appear in the year-end balance sheet related to this contract using the percentage-of-completion method

Computing depreciation, net book value, and gain or loss on asset sale lynch company owns and operates a delivery van that originally cost $46,400. lynch has recorded straight-line depreciation on the van for four years, calculated assuming a $5,000 expected salvage value at the end of its estimated six-year useful life. depreciation was last recorded at the end of the fourth year, at which time lynch disposes of this van. compute the net bookvalue of the van on the disposal date.

If a company’s employees are angry about their work, a visiting auditor may also become agitated, illustrating the power of

In microeconomics, the point at which supply and demand meet is called the blank price