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Question - Marie Co. acquired inventories on May 1, 2019, from its 70% owned subsidiary, Paz Company. The inventories were sold for P94,000, including the 25% mark up on cost. Out of these inventories, 65% were sold to outsiders. During the year, Marie reported net income of P215,000 and Paz reported net income of P140,000. How much is the realized profit to be allocated to non-controlling interest in 2019?
Prepare a trial balance of the general ledger and prove the accuracy of the subsidiary ledger by preparing a schedule of accounts receivable.
Calculate the economic order quantity. Wilson Company is trying to figure out the most efficient inventory management, Annual sales units required 10,000
1. Does the manager of a Arctic Cat distribution center participate in long term budgeting? Explain.
Compute the amount of overhead allocated to the Sport and the Pro drones for the first quarter using activity-based costing.
question you are a professional accountant who has been employed to provide advice to a small start up biotech company
Create a list of all of the entities that are mentioned in the description and describe what happens to the cash account of each entity that you identified in Requirement a.
Phil and Mason are discussing how the market price of a bond is determined. Phil believes that the market price of a bond is solely a function of the amount of the principal payment at the end of the term of a bond. Is he right? Discuss.
Cite three examples of typical costs that would be included in manufacturing overhead. Explain why companies develop predetermined overhead rates. Describe how an activity-based costing system might benefit Borealis Manufacturing.
What is the payback period for Tangshan Mining company's new project if its initial after tax cost is $5,000,000 and it is expected to provide after-tax operating cash inflows of 1,800,000 in year 1.
Handsome Tool Company manufactures a product, What is the September cost of production report on a FIFO basis for the Assembly Department.
Describe the costs associated with inventory control and explain the significance of the Economic Order Quantity. Find Number of orders per cycle
Determine the cost of food wrapping and book covers if the sales method is used for shipping-box inserts and determine the cost of food wrapping and book covers if the production method is used for shipping box inserts.
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