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Questions -
Q1. In 2012, parent reports Cost of Goods Sold of $4,000,000. Its 90% owned subsidiary reports Cost of Goods Sold of $1,000,000 in 2012. During 2011 the subsidiary had $60,000 of unrealized gains on intercompany sales to its parent. In 2012, the subsidiary had sold $200,000 of goods to its parent and had $30,000 of unrealized gains. How much is consolidated cost of goods sold in 2012.
Q2. Same facts as question 1. Assume in 2012 the subsidiary had net income of $150,000. What is the non-controlling interest in subsidiary net income in 2012?
Ledger of Custer Company has the following work in process account.
You read about various internal controls that should be in place for ensuring sound operations and transaction processing. Internal control is a favorite topic of auditing students, since a lot of the internal controls you learned about can be app..
In May, she sells her stock in the corporation for $60,000. Is Suzanne allowed ordinary loss treatment on the sale of her small business stock
Define/update a customer having id, name, address, date of birth, sex. Define/update branch having branch name, address.
What are the prime costs, manufacturing costs, cost of good manufactured, and cost of goods sold? Not sure where and when to use the 60 percent.
Compare target costing and cost-plus pricing. When is each the most appropriate method to use? Provide an example of each.
Prepare a three-column comparative income statement that reports the following: Annual income without the special order
at the beginningof the year caples co had total assets of 800000 and total liabilities of 300000. if during the year
Kent Co. includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost Kent $2.00 each. Kent estimates that 40 percent of the coupons will be redeemed. Data for 2006 and 2007 are as ..
The balance in the investment account is $59,000 at the time of the change, and accountants working with company records determined that the balance would have been $94,000 if the account had been adjusted for investee net income and dividends as ..
The net asset "property under capital lease" has a 2009 balance of $2,797 million ($5,341 - 2,544). Liabilities for capital leases total $3,515 ($315 + 3,200). Why do the asset and liability amounts differ?
Resco Corporation and Yapan Corporation operate in the same industry. Resco uses the straight-line method to account for depreciation; Yapan uses an accelerated method.
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