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Question - Waterway Windows manufactures and sells custom storm windows for three-season porches. Waterway 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. Waterway enters into the following contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $2,490 and chooses Waterway to do the installation. Waterway charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Waterway $1,950 (which equals the standalone selling price of the windows, which have a cost of $1,110) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Waterway completes installation on October 15, 2020, and the customer pays the balance due.
Waterway estimates the standalone selling price of the installation based on an estimated cost of $430 plus a margin of 10% on cost. Prepare the journal entries for Waterway in 2020.
The total assets of Marigold Company are $184,000 and its stockholders' equity is $89,000. What is the amount of its total liabilities
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Determine the transaction price for this contract.
Dynamic Leaders Inc. reported the following results for the yearending July 31, 2008. Prepare a retained earnings statement for the fiscal year endingJuly 31, 2008
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A firm has common stock with a market price of P55 per share and an expected dividend of P2.81 per share. Compute the cost of the firm common stock equity
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