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1. Why are adjustments made to the calculation of the non-controlling interest for the effects of intercompany profit in upstream but not for downstream sales?
2. Choose a public company financial statement - 10k or annual report. Review the footnote disclosures related to intercompany activity. How important is this activity to the consolidated group? Where do you find this information? Be sure and post a link or attach the document to your posting.
For the credit sales, 50% are collected in the month of sale, and 50% the next month. The total expected cash receipts during September are:
Make the entry to record the partial refunding. Assume Grant Co. makes reversing entries when appropriate. Prepare the adjusting entry at December 31, assuming straight-line amortization of the discount.
Indicate the account names, amounts, and classifications of the items related to the premium plan that would appear on the BC Candy Company balance sheet and income statement at the end of 2010 and 2011.
Norm did not file a claim against the insurance policy because of a fear that reporting the accident would result in a substantial increase in his insurance rates. His adjusted gross income was $14,000 (before considering the loss). What is Norm's..
Under the authority of the IRS, real property can be seized for nonpayment of taxes. In addition, the local government could confiscate personal property for public use. Analyze how involuntary conversions differ from condemnations and how to dete..
Complete additional investigation on the JIT and EOQ models. Discuss which of the two inventory models is better and why: Economic Order Quantity or Just-in-Time?
At the break-even point of 1,500 units, variable costs are $60,000, and fixed costs are $30,000. What would operating income be if 1,501 units are sold?
How would a balanced scorecard for Chadwick, Inc. differ from ones developed in its divisions, such as the Norwalk Pharmaceutical Division? Do you anticipate that there might be major conflicts between divisional scorecards and those of the corpor..
Discuss a production process that you think would involve the production of joint products, being sure to address the following points:
An introduction to internal controls, explaining in your own words the two primary goals of internal control.
For each of the following items indicate, whether the individual taxpayer must include any amount in gross income.
Rey uses the method prescribed in Part 1b, what adjusting journal entry must be made to recognize bad debts expense on June 30, 2012? (Round your intermediate calculation to the nearest dollar amount. Omit the "tiny_mce_markerquot; sign in your re..
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