Corlis Custom Builders designs decks, gazebos, and play equipment for residential homes. The following was provided for the year ended September 30, 2016:
The average design fee is $700. There were 2,000 designs processed during the year.
Required:
a. Prepare a statement of cost of services sold.
b. Prepare an income statement.
c. Discuss three differences between services and tangible products.

Question

Corlis Custom Builders designs decks, gazebos, and play equipment for residential homes. The following was provided for the year ended September 30, 2016:
  The average design fee is $700. There were 2,000 designs processed during the year.
Required: 
a. Prepare a statement of cost of services sold.
b. Prepare an income statement.
c. Discuss three differences between services and tangible products.

Quizplus · Accepted Answer

The Answer of Corlis Custom Builders designs decks, gazebos, and play equipment for residential homes. The following was provided for the year ended September 30, 2016:
  The average design fee is $700. There were 2,000 designs processed during the year.
Required: 
a. Prepare a statement of cost of services sold.
b. Prepare an income statement.
c. Discuss three differences between services and tangible products.

Corlis Custom Builders Designs Decks, Gazebos, and Play Equipment for Residential