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Windsor Windows manufactures and sells custom windows for commercial office buildings. Windsor also provides installation services for the windows. The installation process can be performed by other vendors if chosen by Windsor’s customers, but Windsor will do the installation at no additional charge for its customers who buy windows from Windsor. On September 1, 2015, Windsor enters into a contract to manufacture, deliver and install windows for a particular industrial customer. The total contract price is for $30 million. The contract provides that Windsor will be paid $15 million upon delivery of the windows and $15 million when the installation is complete. Windsor will do the installation at tno additional charge, but he market value of the installation service on a contract this large is $1 million.
Windsor delivers the windows at the customer’s new office building on December 1, 2015. In accordance with the contract, Windsor is paid $15 million on the date. Installation of the windows does not begin until January 2, 2016 and installation is completed on January 31, 2016. Windsor is then paid an additional $15 million from the customer on that date.
Prepare the necessary accounting entries on December 1, 2015 and on January 31, 2016 to reflect this business transaction.
A company published the following information in its financial statements for its 2015 annual report: Prepare the pro-forma 2016 income statement, balance sheet, and statement of cash flows.
The cost of repairing the component is $2,250. Illustrate what is the total recorded cost of the automatic score keeping equipment?
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A had 500 units in its inventory at a cost of $5 each. if purchased, for $2400, 300 more units. A then sold 600 units at a selling price of $10 each, resulting in gross profit of $2,100. What cost flow assumption was used? End of the year physical in..
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Crisp Cookware's common stock is expected to pay a dividend of $3 a share at the end of this year (D1 = $3.00); its beta is 1.15; the risk-free rate is 5%; and the market risk premium is 5%. The dividend is expected to grow at some constant rate g, a..
what date must the invoice be paid in order for the buyer to take advantage of the discount
local computer repair store that also builds custom computers to order
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the company has a defined benefit pension idea covering considerably all of its employees. pension benefits are based
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