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Question: A U.S. company owns an 80% interest in a company located on Mars. Martian currency is called the Martian Credit. During the year the parent company sold inventory that had cost $23,700 to the subsidiary on account for $29,500 when the exchange rate was $0.5192. The subsidiary still held one-half of the inventory and had not paid the parent company for the purchase at the end of the fiscal period. The unsettled account is denominated in dollars. The exchange rate at the fiscal year-end was $0.4994.
(b) Compute the amount of the intercompany profit to be eliminated in the consolidated statements workpaper prepared for the current year.
Duval Co. issues four year bonds with a $ 100,000 par value on June 1, 2013, at a price of $ 95,948. The annual contract rate is 7%, and interest is paid semiannually on November 30 and May 31.
What is meant by budget variance?
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Explain how business process reengineering occurs. Also, explain how it differs from the typical changes in company policies.
updraft systems inc. makes paragliders for sale through specialty sporting goods stores. the company has a standard
Prepare the entries for Yorkshire Company for the purchase of the stock, the share of Fain income, and the dividends received from Fain Company
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On October 10, the stockholders' equity of Sherman Systems appears as follows. Prepare journal entries to record the following transactions for Sherman Systems.
Prepare the journal entry to recognize sale of 11 new subscriptions, clearly identifying the revenue or deferred revenue associated with each performance
smelly perfume company manufactures and distributes several different products. they currently use a plant-wide
What is the major difference between a master budget and an operating budget? Compare the benefits and risks of creating and using these two budgets
-analyze the benefits and weaknesses of traditional abc in determining accurate overhead costs over a time-driven abc
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