In 2023, Sunset City signed a contract in the amount of $8,000,000 for the construction of a new city hall. Expenditures were $4,000,000 in 2023 and $2,050,000 in 2024, which included a change to the original construction design in the amount of $50,000. What amount should be added to capital assets in the governmental activities accounts in 2024? $0 $50,000 $2,050,000 $2,000,000

Q: OCF analysis

A: Operating Cashflow Analysis  = Net Income + Depreciation and Amortization- Net Working capital

Q: How is ARR calculated?

A: ARR: Accounting Rate of Return (ARR) is the rate of return earned on the investment made in a…

Q: What is Reg D?

A: Regulation D (Reg D): It may be a Securities and Exchange Commission (SEC) law confining exceptions…

Q: Define and expain

A: Detailed Explanation of Nursing1. Patient Care:Direct Care: Nurses provide hands-on care to…

Q: What are ADRs?

A: Answer: An American depositary receipt (ADR) is a negotiable asset that denotes a non-US company…

Q: the customer per small p the customer per large p= s Stork Enterprises have f gnize this tax…

A: A. Total tax charged to the customer per small package = 6% x $45 = $2.70Overall charge per small…

Q: Definition of Marco

A: Macroeconomics is the study of how the economy behaves in broad outline. It is largely concerned…

Q: Describe the functions and powers of ASIC

A: Australian securities and investment commission is a commission made in 1998 of Australian…

Q: A figured out

A: Pre determined Overhead rate Calculation  Overhead cost  $      28,80,000 Divided By  Direct…

Q: Define terminal value

A: Terminal value is the value of the project or the security at the end of a specified future date.…

Q: anuty What general internal control v

A: Given case is: All-Around Sound Co. discovered a fraud whereby one of its front office…

Q: What is the SML? What is the CAPM? What is the APT?

A: Security Market Line (SML):The Security Market Line (SML) is a graphical representation of the…

Q: Define NRV method.

A: Definition:   Product costs: The costs incurred to acquire the merchandise, ship the stock, prepare…

Q: Define Volcker rule

A: Volcker Rule is a regulation that implies restrictions on the banks to involve in the stock market…

Q: What the agi

A: AGI means Adjusted Gross Income. It is the total income on which income tax payable would be…

Q: What is alpha transfer?

A: The term ‘Alpha’ refers to the active return on investment. In other words, the excess return from…

Q: Define SML equation

A: Introduction: Security market line is the diagrammatic depiction of capital asset pricing model to…

Q: What is cpj

A: Financial accounting involves the work of recording and posting of financial transactions into the…

Q: What is a CMO?

A: A collateralize mortgage obligation (CMO) refers to a type of mortgage-backed security that contains…

Q: Define Will.

A: A will is a legal document in which a person specifies how his property is going to be distributed…

Q: I Need Formulation

A: Part a: Contribution margin ratio for 2012=Net sales-Total variable costNet…

Q: Define collection policy

A: Introduction: A mutual responsibility between the operating departments, accounts receivables is to…

Q: w to calculate WAC

A: The weighted average cost of capital, commonly regarded as the WACC is the total cost of all the…

Q: 1- Give the journal entry for each transaction. 2- Post each transaction to T accounts.

A:

Q: What is APR?

A: In US, calculation as well as disclosure of Annual Percentage Rate is basically government by an act…

Q: Define Profi t and loss (P&L) statement

A: Introduction: The financial statement is a detailed analysis of the financial situation of the…

Q: Working/Application of ABC analysis?

A: Solution Activity based coating (ABC) is a method of assigning overhead and indirect cost -Such as…

Contract Costing

Contract costing is about tracing particular costs related to a particular contract entered into with the customer. It is one of the forms of job order costing. It is useful in long-term contracts at the most. It is seen that substantial time is required for the completion of the contract which takes different accounting periods. Thus, it is very much helpful for recognizing the costs associated with it and accounting in their specific accounting periods.