User Account

All Pages

Find how much revenue would be recognized by coronado

Assignment Help Accounting Basics
Reference no: EM132668929

Coronado Windows manufactures and sells custom storm windows for three-season porches. Coronado 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. Coronado enters into the following non-cancellable contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $3,050 and chooses Coronado to do the installation. Coronado charges the same price for the windows regardless of whether it does the installation or not. The price of the installation service is estimated to have a fair value of $715. The customer pays Coronado $2,535 (which equals the fair value of the windows, which have a cost of $2,400) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Coronado completes installation on October 15, 2020, and the customer pays the balance due.

Problem 1: Using the five-step process for revenue recognition, determine when and how much revenue would be recognized by Coronado. Assume Coronado follows IFRS. (Round percentage allocations to 2 decimal places, 15.25 and final answers to 0 decimal places, e.g. 5,275.)

Reference no: EM132668929

Questions Cloud

Disadvantages of piece rate payment method : Distinguish between piece rate and commission payment methods.Define the term stakeholders
Explain the role of knowledge management systems : You are the business owner of a local small engine repair shop, and you have been thinking about implementing a knowledge management system for your customer.
Management leadership of organizational development : The Key to the successful management leadership of organizational development in today's era of dynamic changes is thereby embedded in the leader's thoughts
What are the primary ways to finance a new business : What are the primary ways to finance a new business? How would you expect to finance your business in the first few years?
Find how much revenue would be recognized by coronado : Find how much revenue would be recognized by Coronado. Assume Coronado follows IFRS. (Round percentage allocations to 2 decimal places, 15.25)
What are the primary ways to finance a new business : What are the primary ways to finance a new business? How would you expect to finance your business in the first few years?
How the given processes interact to affect the patient : Patient is a 24-year-old female administrative assistant who comes to the emergency department with a chief complaint of severe right-sided headache.
How clark is entitled to seek reimbursement : How would your answer to the previous question change if Eric holds his interest through his wholly owned corporation that has only nominal assets
Discuss the six forces for change : In the Week 9 Lecture: Looking to the Future we discuss the six forces for change. The video from the lecture explored the thesis that, in the end

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd