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Question - Harris Enterprises owns 100% of the outstanding stock of Staton Company. The following transactions occurred during 2X13:
a) Harris Enterprises sold inventory costing $2,750 on account to Staton Company for $3,800. As of year-end, the amount due had not been paid. Harris Enterprises and Staton Company use a perpetual inventory system.
b) Staton Company borrowed $8,000 from Harris Enterprises on December 31, 2X13, and signed a 2-year note.
Required: For each item, prepare the necessary intercompany elimination entry that is needed, if at all, in order to prepare a year-end consolidated balance sheet. Be certain to specifically identify whether an account is on the books of Harris Enterprises or Staton Company.
Determine the number of valves (if any) that should be purchased and the number of valves and/or containers that should be manufactured
Calculate Outdoor Adventures' current company-wide overhead rate based on direct labor hours. Calculate the manufacturing overhead costs for for each part.
marty stubbs invests land in a partnership with lee dx. stubbs purchased the land in 2007 for 2000000. a real estate
How did Jon team coordinate with the vendor in the implementation stage of the systems development project?What did Jon team do in advance of contacting SAP that made the design and implementation systems proceed as smoothly as possible?
ACC100 Accounting - Prepare an income statement for the year ended 30 June 2016 and prepare a statement of changes in equity for the year ended 30 June 2016.
Tucki Co. receives $269,083 when it issues a $269,083. Prepare the journal entries to record the mortgage loan and the first two installment payments.
1) Which of the following would not be part of a corporate risk assessment audit:
Lower-of-Cost-or-Market Sedato Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.
What are alternative methods of cost estimation that could be used in the movie making system
Prove mathematically how the profit margin and asset turnover work together to explain return on assets, by showing the appropriate calculation.
1. What is the break-even point in passengers and revenues per month? 2. What is the break-even point in number of passenger train cars per month?
The prepaid insurance account shows a debit of $6,000, representing the cost of a 2-year casualty insurance policy dated September 1 of the current year.
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