You were delayed for 13 days from date of delivery time. A standard liquidated damages (LD) is imposed on you. Compute how much are you going to receive in your final billing if your contract amount is Php 3.5 million
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You were delayed for 13 days from date of delivery time. A standard liquidated damages (LD) is imposed on you. Compute how much are you going to receive in your final billing if your contract amount is Php 3.5 million.
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- Mitt was injured by a bus called “Move Forward.” He won a lawsuit and will receive $10,000 per month, at the beginning of each month, for the next 10 years. How much must “Move Forward” deposit into an account earning 5%, compounded monthly, to satisfy this judgment?a. $946,742.b. $937,109.c. $942,814.d. $907,899.Jorg is building an office building for Wilmington Company for $20,000,000. The contract has the following characteristics: • The office building is built to the customer’s specifications and the customer can make changes to these specifications over the contract term. • Progress payments are made by the customer throughout construction. • The customer can cancel the contract at any time (with a termination penalty); any work in process is the property of the customer. Jorg provides you with the following details: December 31 2019 2020 2021 Costs incurred to date $8,000,000 $16,000,000 $18,000,000 Estimated costs to complete 6,000,000 3,000,000 — Billings to date 8,000,000 16,000,000 20,000,000 Collections to date 6,000,000 12,000,000 18,000,000 Required: 1. Calculate the estimated total gross profit on the contract as of December 31, 2019, 2020, and 2021. 2. Calculate the percentage of completion for 2019, 2020, and 2021. 3.…Whispering Corp. enters into a contract with a customer to build an apartment building for $1,300,000. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $195,000 to be paid if the building is ready for rental beginning August 1, 2026. The bonus is reduced by $65,000 each week that completion is delayed. Whispering commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes. August 1, 2026 August 8, 2026 August 15, 2026 After August 15, 2026 Transaction price LA 70% $ 20 Determine the transaction price for this contract. 5 5
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- Suraya wants to Buy a building. He went to apply financing with standard chartered. After proper assessment, standard chartered bank provides a financing facility under Murabahah to the Purchase Orderer principle. Financing amount: RM800,000 Rate of return: 8.2% Financing tenure: 10 years At the end of the contract, Suraya still has an outstanding amount of RM40,000. As part of condition of the Murabahah contract, Suraya will be charged an annual penalty fee of 4% for any outstanding amount due and the amount will be donated to charitable organisation. Question: (a) Record journal entries to record all of the above transactions in standard chartered bank's books (Please show your workings/calculations).simon's cost for a new computer with accessories was $3120. he made a down payment of $550 in finance the balance on a 24 month fixed payment installment loan. The monthly payments are $111.73. Instead of making his 18th payment, Simon decides to pay the total remaining balance and terminate the loan. How much is interest will Simon save? Simon will save $___ in interest. round to nearest centWilliam Corp. enters into a contract with a customer to build an apartment building for $1,056,300. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $136,200 to be paid if the building is ready for rental beginning August 1, 2026. The bonus is reduced by $45,400 each week that completion is delayed. William commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by August 1, 2026 August 8, 2026 August 15, 2026 After August 15, 2026 Transaction price $ Probability LA 70 % 20 Determine the transaction price for this contract. 5 5 SUPPORT
- Nair Corp. enters into a contract with a customer to build an apartment building for $1,000,000. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $150,000 to be paid if the building is ready for rental beginning August 1, 2018. The bonus is reduced by $50,000 each week that completion is delayed. Nair commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability August 1, 2018 70% August 8, 2018 20 August 15, 2018 5 After August 15, 2018 5 Determine the transaction price for this contract.Anderson Corp. enters into a contract with a customer to build an apartment building for $995,600. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $145,500 to be paid if the building is ready for rental beginning August 1, 2026. The bonus is reduced by $48,500 each week that completion is delayed. Anderson commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability August 1, 2026 70 % August 8, 2026 20 August 15, 2026 5 After August 15, 2026 5 Determine the transaction price for this contract. Transaction priceWhen Dan signed a three-year contract as a manager, the company allowed reimbursement of $420 at the end of every month for his car expenses. At the time the contract was signed, money was worth 9.61% compounded monthly (a) What value did the expense reimbursement provision have when the contract was signed? (b) What is the outstanding value of the reimbursement after the 10th payment? (a) The value was $ (Round to the nearest cent as needed Round all intermediate values to six decimal places as needed.) (b) The outstanding value is S (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)