Business, 19.05.2020 20:05 mnknmklhnklnj2583

Buffalo Windows manufactures and sells custom storm windows for three-season porches. Buffalo 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. Buffalo enters into the following contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $2,340 and chooses Buffalo to do the installation. Buffalo charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Buffalo $1,960 (which equals the standalone selling price 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, 2020, Buffalo completes installation on October 15, 2020, and the customer pays the balance due.

Required:

a. Buffalo estimates the standalone selling price of the installation based on an estimated cost of $ 450 plus a margin of 30% on cost. Prepare the journal entries for Buffalo in 2017.
b. Given uncertainty of finding skilled labor, Buffalo is unable to develop a reliable estimate for the standalone selling price of the installation. Prepare the journal entries for Buffalo in 2017.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 23:30

Using the exxon data as an example what would be the market capitalization of penny's pickles if each share is selling for $175.35?

Answers: 3

Answer

Business, 22.06.2019 02:40

Which critical success factor improves with reduced cycle time, better quality standards, and improved efficiency when an is is implemented?

Answers: 3

Answer

Business, 22.06.2019 12:40

Evan company reports net income of $232,000 each year and declares an annual cash dividend of $100,000. the company holds net assets of $2,130,000 on january 1, 2017. on that date, shalina purchases 40 percent of evan's outstanding common stock for $1,066,000, which gives it the ability to significantly influence evan. at the purchase date, the excess of shalina’s cost over its proportionate share of evan’s book value was assigned to goodwill. on december 31, 2019, what is the investment in evan company balance (equity method) in shalina’s financial records?

Answers: 2

Answer

Business, 22.06.2019 19:20

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. during 2003, an auction house sold a sculpture at auction for a price of $10,211,500. unfortunately for the previous owner, he had purchased it in 2000 at a price of $12,177,500. what was his annual rate of return on this sculpture? (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answer as

Answers: 2

Answer

You know the right answer?

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

Questions