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Princess Corporation owns 75% of the outstanding stock of Edelbert Company, acquired at book value during 2016. Selected information from the accounts of Princess and Edelbert for 2018 are as follows:
Sales of Princess and Edelbert amounted to P3,600,000 and P2,000,000 respectively;
Cost of goods sold amounted to P1,960,000 and P760,000 respectively.
Problem 1: In the consolidated income statement for Princess Corporation and subsidiary for the year 2018, how much is consolidated cost of sales?
Each student is required to select an article on "accounting" published in the Wall Street Journal in 2015, 2016, or 2017.
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ashley adams and michael rovell formed a partnership in which the partnership agreement provided for salary allowances
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