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Problem - ABC Corp. Acquired a 70% interest in GHI Corp on January 2, 2021 for P936,000 when GHI's net assets had a book value and fair value of P1,580,000. During 2021, ABC sold inventory items that cost P1,560,000 to GHI for P2,080,000 and GHI's inventory at December 31, 2021 included 1/2 of the merchandise. DEF also sold to ABC an inventory for P30,000 with a cost of P25,000, 70% were sold to unaffiliated customers. ABC Corp. Reported separate income from its own operation of P1,170,000 and GHI reported a net loss of P390,000. Compute the consolidated net income.
Analyze the impact on the income statement based on the given scenario. For the company Apple Inc. Use Nasdaq for statements.
colerain corporation is a merchandising company that is preparing a profit plan for the third quarter of the calendar
On January 2, 2021, when the market price of the shares was $42, Find the amount of compensation expense Kinshasa should have recorded for calendar 2020
A supervisor would have to be hired to oversee production of the starters. How much would profits per unit increase or decrease as a result of making starters
answer the following questions related to investments in inventory and accounts receivable 1.how is inventory turnover
Explain the Australian Standard AS 8001-2008 Fraud & Corruption Control. Structure: Planning & Resourcing, Prevention, Detection, Response
1.alison and chuck renny began operations of their furniture repair shop lazy sofa furniture inc. on january 1 2011.
assume that on september 1 office depot had an inventory that included a variety of calculators. the company uses a
Determine amounts for Correct (reconciled) ending balance of Cash, and the amount of the omitted check.
last year 2011 solomon condos installed a mechanized elevator for its tenants. the owner of the company sam solomon
In 2012, the production and sales results were exactly reversed. Prepare income statements for each year using variable costing
How do demonstrate the total materials variance and round to the nearest whole dollar. Enter a favorable variance as a negative number.
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