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Question - P Company owns 80% of S Company. S Company sells merchandise to P Company at 35% above cost. During 2020 such sales amounted to $600,000. At the end of each year, P Company had sold 1/3 of inventory purchased from S to third parties.
Required - Prepare the journal entries for P and S. In addition, the workpaper entries necessary to eliminate the effects of the intercompany sales for 2020.
the following direct materials data pertain to the operations of stone wealth manufacturing company for the month of
Bonds of P30,000 mature at annual interval beginning April 1, 2013. Prepare the amortization table following the bond outstanding method
If the average sales price per sprinkler unit did not increase when the company began mass-producing the special-order sprinkler, what would be the effect on the company?
AD Company estimates that variable costs will be 70% of sales and fixed costs will total $1,800,000. Compute the break-even point in units and dollars
For each period, he makes a 401(k) contribution of 11% of gross pay and a $50 charitable contribution. Calculate his federal income tax withholding
What are the estimated life-cycle revenues? What is the estimated life-cycle operating income if the product life cycle is one year?
jeff beck is a farmer who owns land that borders on the right-of-way of the northern railroad. on august 10 2010 due to
Compare three performance measurement practices. Determine appropriate financial compensation and rewards using the scenario from your Week 3 assignment and explain your rationale of selecting the financial compensation and rewards.
The Rodriguez Company is considering an average-risk investment in a mineral water spring project that has a cost of $150,000.
See the completed spreadsheet Problem 8-53.xls on the instructor website. That spreadsheet has two tabs.
The firm is currently considering a project that has a beta of 1.03 and a project life of six years. What discount rate should be assigned to this project?
These 15 year bonds pay 7% annually on a $1,000 par value. If the bond is purchased at market price, what is the expected rate of return
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