Interior designers create design solutions that ________.

A tint of the hue blue would be ________.

What is true of the color orange?

A lamp that produces light at 2900 kelvins ________. 

A set of nesting tables (see image shown) of decreasing size is a good example of ________.                                Photo: Riverside Furniture (Fair Use)

What unit is used to measure the quantity of light emitted from a source?

 Which color is easiest for the eye to focus on? 

Questions 17-19 Donnie, Inc. purchases 15-year bonds from Lebowski, Inc. on 1/1/24.  The bonds have a $250,000 face value and a stated annual interest rate of 8%.  The bonds pay interest every 6 months, starting on 6/30/24.  Given Lebowski’s credit rating (risk profile), Donnie requires an effective yield of 4%.  At the time of the first interest payment (immediately following it), the fair market value of the bonds is $345,000.  Donnie classifies the bonds as a trading security.    17) Prepare the entry necessary by Donnie on 1/1/24 at bond issuance.             18) Prepare the entry or entries necessary on 6/30/24, when the first interest payment is made and Donnie prepares financial statements.            19) On Donnie’s income statement for the period covering January 1 2024 through June 30 2024, how much income will Donnie report related to these bonds? 

Question 4 Rays Inc. pays Aroz Corp $12,000,000 in December 2022 with a suite of services related to the installation of a new Enterprise Resource Planning system.  The purchase price includes, installation and customization of software, training, and 6 years of customer support.  Installation will occur on 1/1/2023 with customization completed within 90 days of installation.  Training will consist of an introductory 8 hour session in January 2023 and a “power user” 8 hour session in January 2024, and the customer support will be earned evenly over the contract period 1/1/2023-12/31/2028.  When sold separately, these products/services retail for:   Installation:                 $7,000,000 Customization:            $3,875,000 Training:                      $1,250,000 Customer Support       $1,875,000   4)How much revenue will Rays, Inc. report in its 2022, 2023, and 2024 income statements?

Questions 5 – 7 Baker Construction has agreed to build a new apartment building for a price of $65,000,000.  It takes five years to complete the project, and Baker uses the Percentage of Completion Method to account for long-term contracts.  Information on the cost for the first four years are as follows:    Year 1     Year 2      Year 3    Year 4 Cash Cost incurred to date 15,000,000 25,000,000 50,000,000 57,500,000 Estimated future costs 45,000,000 30,000,000 20,000,000 5,000,000 Current year Billings 17,000,000 13,000,000 15,000,000 14,000,000 Current year Cash collect. 14,500,000 16,000,000 15,500,000 16,000,000   5)Please provide the income statement effect of this contract for the end of Year 2.          6)Please provide the income statement effect of this contract for the end of Year 3.          7)Please provide the income statement effect of this contract for the end of Year 4.