Determine the consolidated inventory at year-end

Assignment Help Accounting Basics
Reference no: EM132601068

Question - Parent Company owns 75% of Subsidiary Company. For the current year, Parent and Subsidiary each report sales of P800,000 and P700,000 each, respectively. Also in the current year, Parent sold goods to Subsidiary costing P80,000 for P100,000. 40% of the goods purchased by the Subsidiary still remain unsold by the end of the year. Parent and Subsidiary also report ending inventory of P75,000 and P60,000, each respectively. Determine the consolidated inventory at year-end.

Reference no: EM132601068

Questions Cloud

What is the contribution of solow-swan model : What is the contribution of solow-swan model in growth theory?
What is the magnitude of the magnetic field : What is the magnitude of the magnetic field on the axis of the ring 5.00 cm from its center - From this data, the wavelength of the unknown light is
Project management software package : As part of your company's effort to select a project management software package, Develop a questionnaire to help collect the relevant information.
Derive the neoclassical model of investment : Derive the neoclassical model of investment, what are the major determinants of investment
Determine the consolidated inventory at year-end : Parent and Subsidiary also report ending inventory of P75,000 and P60,000, each respectively. Determine the consolidated inventory at year-end
How can the bank of canada use open market operations : How can the Bank of Canada use open market operations increase to or decrease the Money Supply?
What are the revenue related to foreign direct investment : What are the revenue and cost motive related to foreign direct investment? What are the benefits of foreign direct investment?
Consumer price index for an economy : If the Consumer Price Index for an economy was 133.0 in February 2016 and 137.0 in February 2017
Determine consolidated sales : Parent and Subsidiary have gross profit rates of 20% and 10% respectively and also report ending inventory of P85,000 and P90,000, Determine consolidated sales

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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