Tullis Construction Enters into a Long-Term Fixed Price Contract to Build

question 56

Multiple Choice

Tullis Construction enters into a long-term fixed price contract to build an office tower for $22,000,000. In the first year of the contract, Tullis incurs $9,000,000 of cost and the engineers determined that the remaining costs to complete are $5,000,000. Tullis billed $11,000,000 in year 1 and collected $4,100,000 by the end of the end of the year. Refer to Tullis Construction. How much should Tullis report as Accounts Receivable at the end of year 1 on the balance sheet assuming the use of the percentage-of-completion method? (Do not round intermediary calculations, and round your final answer to the nearest whole dollar.)

• A) $6,900,000
• B) $3,700,000
• C) $4,100,000
• D) $20,000,000

Learn about the potential of eye-movement desensitization and reprocessing (EMDR) in treating post-traumatic stress disorder (PTSD).

Understand the concept and various forms of aggression.

Identify factors that contribute to or inhibit aggression.

Recognize the biological and environmental influences on aggression.

---

Definitions:

Educational Group

A set of individuals gathered to acquire knowledge or skills through structured learning and activities.

Particular Topic

A specific area or subject of discussion, research, or interest.

Educational Field

An area of study or specialization within the broader realm of education, concerning teaching and learning processes.

Progressive Muscle Relaxation

A relaxation technique that involves tensing and then slowly relaxing each muscle group in the body to reduce stress and anxiety.