Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company enters into a contract with a customer t

A company enters into a contract with a customer to build a building, with a...

70.2K

Verified Solution

Question

Accounting

A company enters into a contract with a customer to build a building, with a performance bonus of $36,100 if the building is completed by September 30, 2021. The bonus is reduced by $5,000 each week that completion is delayed. The company commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes:

Completed by Probability September 30, 2021 70% October 7, 2021 15% October 14, 2021 10% October 21, 2021 5% The amount of revenue the company should recognize related to this bonus is $_______________.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Programming
1.2K views

Write a c++ code that prompts the user to enter three float numbers and print them...

Psychology
1.2K views

Which of the seven memory errors presented by Schacter have you committed? Provide an example of...

Electrical Engineering
1.2K views

An RLC circuit consists of a resistor R = 12 LaTeX: \ OmegaΩ, a capacitor C...

Mechanical Engineering
1.2K views

The system has zero -3, poles -2 ± j and gain 5. Please find the Transfer...

Accounting
1.2K views

Provide the missing data in the following table for a distributor of martial arts products:...

Accounting
1.2K views

The following information is available for the preparation of the government-wide financial statements for the...

Accounting
1.2K views

What would be the annual net cash inflow? How do you calculate it? ...

Accounting
1.2K views

Blue Spruce Limited reported profit of $472,686 for its November 30,2024, year end. Cash dividends...

Accounting
1.2K views

Multiple choice When making decisons, what qualitative items need to be considered? Quality Timing Both...

Accounting
1.2K views

How are current investments reported?

Accounting
1.2K views

Not secure invoker Week 13, Chapter 11 GHA Calculato Problem 11-5 Special Deductions and Limitations...

Accounting
1.2K views

Use the following consolidated balance sheet for Campbell Soup Company annual report. CAMPBELL SOUP COMPANY...