On March 31, 2015, Big Boats Company entered into a contract with Vacations Unlimited to produce a state-of-the-art cruise ship, to be completed within three years. Big Boats estimated the total cost of building the ship at $300 million. The contract price was $400 million. The ship was completed on February 15, 2018.

a. What tax accounting method must Big Boats use for the contract?

Percentage of completion method / Completed contract method /The small contractor exception method

b. Using the financial data provided relating to the contract's performance, complete the following schedule.

Enter dollars in millions. Enter the percents as rounded whole numbers. For example, 62.32% would be entered as 62.

Date Total Costs % of Contract Current-Year Accrued Current-Year

Incurred to Date Completed Revenue Costs Deductible

12/31/15 $90 million % $ million $ million

12/31/16 $150 million % $ million $ million

12/31/17 $270 million % $ million $ million

12/31/18 $360 million % $ million $ million

c. Complete the following statement regarding the consequences of the total cost of $360 million exceeding the estimated total cost of $300 million.

Big Boats will receive interest on the overpayment of taxes(a. 2015 b. 2015 and 2016 c. 2015,2016,2017 d.2018) in as income was (overstated/ udnerstated)

Stock market crashes happen when the value of most of the stocks in the stock market increase at the same time. question 10 options: true false

This problem has been solved! see the answercompute and interpret altman's z-scoresfollowing is selected financial information for ebay, for its fiscal years 2005 and 2006.(in millions, except per share data) 2006 2005current assets $ 4,970.59 $ 3,183.24current liabilities 2,518.39 1,484.93total assets 13,494.01 11,788.99total liabilities 2,589.38 1,741.00shares outstanding 1,368.51 1,404.18retained earnings 4,538.35 2,819.64stock price per share 30.07 43.22sales 5,969.74 4,552.40earnings before interest and taxes 1,439.77 1,445.18compute and interpret altman z-scores for the company for both years. (do not round until your final answer; then round your answers to two decimal places.)2006 z-score = answer2005 z-score = answerwhich of the following best describes the company's likelihood to go bankrupt given the z-score in 2006 compared to 2007.the z-score in 2006 is half of the 2005 score. both z-scores are well above the score that represents a healthy company.the z-score in 2006 is double the 2005 score. the z-score has increased sharply, which suggests the company has greatly increased the risk of bankruptcy.the z-score in 2006 is half of the 2005 score. the z-score has decreased sharply, which suggests the company is in financial distress.the z-score in 2006 is double the 2005 score. the z-score has increased sharply, which suggests the company has greatly lowered the risk of bankruptcy.

Inventory by three methods; cost of goods sold the units of an item available for sale during the year were as follows: jan. 1 inventory 20 units at $1,800 may 15 purchase 31 units at $1,950 aug. 7 purchase 13 units at $2,040 nov. 20 purchase 16 units at $2,100 there are 18 units of the item in the physical inventory at december 31. determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: round your final answers to the nearest dollar. cost inventory method ending inventory cost of goods sold a. first-in, first-out method $ $ b. last-in, first-out method $ $ c. weighted average cost method $ $