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Geraths Windows manufactures and sells custom storm windows for three-season porches. Geraths 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. Geraths enters into the following contract on July 1, 2014, with a local homeowner. The customer purchases windows for a price of $2,400 and chooses Geraths to do the installation. Geraths charges the same price for the windows irrespective of whether it does the installation or not. The price of the installation service is estimated to have a fair value of $600. The customer pays Geraths $2,000 (which equals the fair value of the windows, which have a cost of $1,100) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2014, Geraths completes installation on October 15, 2014, and the customer pays the balance due. Prepare the journal entries for Geraths in 2014.
1. collections of cash from the sale of land would be reported in the following section of the statement of cash
If the average market value of common share is $20, year end price is $25, interest rate on borrowings is 6%, and the tax rate is 50%, then compute both basic and diluted EPS
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Do you concur with the new accountant's recommendation? Present a schedule to support your answer.
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suppose the comparative balance sheets of nike inc. are presented here.nike inc. condensed balance sheet may 31 in
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