In 2021, the westgate construction company entered into a contract to construct a road for santa clara county for $10,000,000. the road was completed in 2023. information related to the contract is as follows: 2021 2022 2023 cost incurred during the year $ 2,490,000 $ 3,984,000 $ 2,008,600 estimated costs to complete as of year-end 5,810,000 1,826,000 0 billings during the year 2,030,000 4,444,000 3,526,000 cash collections during the year 1,815,000 3,900,000 4,285,000 westgate recognizes revenue over time according to percentage of completion. required: 1. calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. (do not round intermediate calculations. loss amounts should be indicated with a minus sign.)

Paar corporation bought 100 percent of kimmel, inc., on january 1, 2012. on that date, paar’s equipment (10-year life) has a book value of $420,000 but a fair value of $520,000. kimmel has equipment (10-year life) with a book value of $272,000 but a fair value of $400,000. paar uses the equity method to record its investment in kimmel. on december 31, 2014, paar has equipment with a book value of $294,000 but a fair value of $445,200. kimmel has equipment with a book value of $190,400 but a fair value of $357,000. the consolidated balance for the equipment account as of december 31, 2014 is $574,000. what would be the impact on consolidated balance for the equipment account as of december 31, 2014 if the parent had applied the initial value method rather than the equity method? the balance in the consolidated equipment account cannot be determined for the initial value method using the information given. the consolidated equipment account would have a higher reported balance. the consolidated equipment account would have a lower reported balance. no effect: the method the parent uses is for internal reporting purposes only and has no impact on consolidated totals.

Personal financial planning is the process of creating and achieving financial goals? true or false

Why do police officers get paid less than professional baseball players?