Business, 17.03.2020 22:15 arizola757

Wildhorse Windows manufactures and sells custom storm windows for three-season porches. Wildhorse also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Wildhorse enters into the following contract on July 1, 2017, with a local homeowner. The customer purchases windows for a price of $2,420 and chooses Wildhorse to do the installation. Wildhorse charges the same price for the windows irrespective of whether it does the installation or not. The installation service is estimated to have a standalone selling price of $600. The customer pays Wildhorse $1,960 (which equals the standalone selling price of the windows, which have a cost of $1,120) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2017, Wildhorse completes installation on October 15, 2017, and the customer pays the balance due.
Required:
a. Prepare the journal entries for Geraths in 2017.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 16:30

The movement of an economy from one condition to another and back again

Answers: 2

Answer

Business, 22.06.2019 15:20

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.

Answers: 1

Answer

Business, 22.06.2019 16:20

There are three factors that can affect the shape of the treasury yield curve (r* t , ip t , and mrp t ) and five factors that can affect the shape of the corporate yield curve (r* t , ip t , mrp t , drp t , and lp t ). the yield curve reflects the aggregation of the impacts from these factors. suppose the real risk-free rate and inflation rate are expected to remain at their current levels throughout the foreseeable future. consider all factors that affect the yield curve. then identify which of the following shapes that the us treasury yield curve can take. check all that apply.a. downward-sloping yield curveb. upward-sloping yield curvec. inverted yield curve

Answers: 1

Answer

Business, 22.06.2019 20:00

Assume the perpetual inventory method is used. 1) the company purchased $12,500 of merchandise on account under terms 2/10, n/30. 2) the company returned $1,200 of merchandise to the supplier before payment was made. 3) the liability was paid within the discount period. 4) all of the merchandise purchased was sold for $18,800 cash. what effect will the return of merchandise to the supplier have on the accounting equation?

Answers: 2

Answer

You know the right answer?

Wildhorse Windows manufactures and sells custom storm windows for three-season porches. Wildhorse al...

Questions