Business, 15.02.2021 19:50, kimlyn58p0wyn0

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 $2,760 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 $560. The customer pays Geraths $2,400 (which equals the fair value of the windows, which have a cost of $1,600) 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.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 06:30, coralaguilar1702

73. calculate the weighted average cost of capital (wacc) based on the following information: the equity multiplier is 1.66; the interest rate on debt is 13%; the required return to equity holders is 22%; and the tax rate is 35%. (a) 15.6% (b) 16.0% (c) 15.0% (d) 16.6% (e) none of the above

Answers: 2

continue

Business, 22.06.2019 11:00, jilliand2030

Why are the four primary service outputs of spatial convenience, lot size, waiting time, and product variety important to logistics management? provide examples of competing firms that differ in the level of each service output provided to customers?

Answers: 1

continue

Business, 22.06.2019 12:10, latdoz0952

Which of the following is not part of the mission statement of the department of homeland security? lead the unified national effort to secure america protect against and respond to threats and hazards to the nation ensure safe and secure borders coordinate intelligence operations against terrorists in other countries

Answers: 1

continue

Business, 22.06.2019 15:20, babyduck0664

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."

Answers: 3

continue

Do you know the correct answer?

Geraths Windows manufactures and sells custom storm windows for three-season porches. Geraths also p...