Panner inc owns 30 percent of watkins and applies the

Assignment Help Accounting Basics
Reference no: EM13600714

Panner, Inc., owns 30 percent of Watkins and applies the equity method. During the current year, Panner buys inventory costing $54,000 and then sells it to Watkins for $90,000. At the end of the year, Watkins still holds only $20,000 of merchandise. What amount of unrealized gross profit must Panner defer in reporting this investment using the equity method?

Reference no: EM13600714

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  What would an antitrust a regulatory and a do-nothing

what would an antitrust a regulatory and a do-nothing theorist say about the electrical power industry? the healthcare

  Maxson products distributes a single product a woven basket

maxson products distributes a single product a woven basket whose selling price is 8 and whose variable cost is 6 per

  Normal cost data, excluding stamping, follows

A company received a special one-time order for 1000 units. Producing the order will have no effect on the production and sales of other units. The buyers name will stamped on each unit, at cost of $2000. Normal cost data, excluding stamping, follows

  A consumer group plans to test whether a new passenger car

a consumer group plans to test whether a new passenger car that is advertised to have a mean highway miles per gallon

  The requirements of the sarbanes-oxley act which requires

the requirements of the sarbanes-oxley act which requires public companies to engage independent auditors. does the

  Bakker corporation applies manufacturing overhead on the

bakker corporation applies manufacturing overhead on the basis of direct labor-hours. at the beginning of the most

  Question 21 figure 4-1 foster company makes power tools

question 21 figure 4-1. foster company makes power tools. the budgeted sales are 420000 budgeted variable costs are

  On december 31 2013 perry corporation leased equipment to

on december 31 2013 perry corporation leased equipment to admiral company for a five-year period. the annual lease

  Prepare the appropriate journal entries for the foregoing

Truck #3 has a list price of $16,000. It is acquired in exchange for a computer system that Shabbona carries in inventory. The computer system cost $12,000 and is normally sold by Shabbona for $15,200. Shabbona uses a perpetual inventory system.

  Todays fashion is a local retailer of trend setting

todays fashion is a local retailer of trend setting clothing. the company income statement and comparative balance

  If she claims two withholding allowances how much will her

anna is single with one four-year-old child. she earns a monthly salary in 2012 of 5000. her filing status is head of

  What is the tax on the interest income now assume that

the wendt corporation had 10.5 million of taxable income assume the firm received an additional 1 millon of interest

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!

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