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

Symantec corp., located in cupertino, california, is one of the world's largest producers of security and systems management software. the company's consolidated balance sheets for the 2009 and 2008 fiscal years included the following ($ in thousands): current assets: receivables, less allowances of $21,766 in 2009 and $24,089 in 2008 $ 838,010 $ 758,700 a disclosure note accompanying the financial statements reported the following ($ in thousands): year ended 2009 2008 (in thousands) trade accounts receivable, net: receivables $ 859,776 $ 782,789 less: allowance for doubtful accounts (8,938) (8,990) less: reserve for product returns (12,828) (15,099) trade accounts receivable, net: $ 838,010 $ 758,700 assume that the company reported bad debt expense in 2009 of $2,000 and had products returned for credit totaling $3,230 (sales price). net sales for 2009 were $6,174,800 (all numbers in thousands).required: what is the amount of accounts receivable due from customers at the end of 2009 and 2008? what amount of accounts receivable did symentec write off during 2009? what is the amount of symentec’s gross sales for the 2009 fiscal year? assuming that all sales are made on a credit basis, what is the amount of cash symentec collected from customers during the 2009 fiscal year?

Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars

Camilo is a self-employed roofer. he reported a profit of $30,000 on his schedule c. he had other taxable income of $5,000. he paid $3,000 for hospitalization insurance. his self-employment tax was $4,656. he paid his former wife $4,000 in court-ordered alimony and $4,000 in child support. what is the amount camilo can deduct in arriving at adjusted gross income (agi)?