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Akron, Inc., owns all outstanding stock of Toledo Corporation. Amortization expense of $15,000 per year for patented technology resulted from the original acquisition. For 2015, the companies had the following account balances: Intra-entity sales of $320,000 occurred during 2014 and again in 2015. This merchandise cost $240,000 each year. Of the total transfers, $70,000 was still held on December 31, 2014, with $50,000 unsold on December 31, 2015.
a. For consolidation purposes, does the direction of the transfers (upstream or downstream) affect the balances to be reported here?
b. Prepare a consolidated income statement for the year ending December 31, 2015.
The Lord Company purchased a machine on January 2, 2010, for $70,000. The machine had an expected residual value of $10,000, an expected life of eight years or 24,000 hours, and a capacity to produce 100,000 units. During 2010, the company produced 1..
Assume that a certain nursing home has two categories of payers. Medicaid pays $65.00 per day and private pay patients pay the established per diem, but approximately 10 percent of private-pay charges are not collected.
In this discussion post you are to discuss either the pro or con of full financial disclosure. You must take a position advocating full disclosure and why this is beneficial for the marketplace and the economy or a position arguing that the associ..
air france-klm af a french company prepares its financial according to international financial reporting standards. afs
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You are purchasing a home for $200,000 with a 20% down payment. What is your principle, interest and balance of the 12th and 60th payment?
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on december 1 discount electronics ltd. has three dvd players left in stock. all are identical all are priced to sell
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