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Questions -
Q1. Keene Corp. owns 80% of Daum LLC. In 2019, Keene sold 10,000 units of inventory to Daum. That inventory cost Keene $250,000 to produce and was sold to Daum for $32 per unit. Daum resold 80% of that inventory for $40 per unit in 2019. In 2020, Daum buys an additional 15,000 units from Keene for $34 per unit that originally cost $390,000 to produce. Daum sells all of its inventory in 2020 for $43 per unit. Assume Keene uses the initial value method to account for its investment in Daum. Provide the consolidation worksheet adjustments required in 2020.
2. How much do these adjustments affect net income attributable to minority interest? (positive number for increase, negative number for decrease)
3. Now assume Keene uses the equity method to account for its subsidiaries. Describe how, if at all, the worksheet adjustments would differ from what you provided in question 1.
$675 worth of supplies on hand. Supplies had a beginning balance of $615. The company had purchased $633 worth of supplies during the month.
The board of directors has noted, What is an underwriting facility, and why might AGL use such a facility, and why might AGL use an underwriter?
Explain the difference between the straight-line method of depreciation and accelerated depreciation. When might each be used?
Question - Analyzing and Reporting Financial Statement Effects of Bond Transactions - Show Excel inputs to confirm the bond issue price
In year 2020, the market interest rate dropped to 5%. Evaluate the effect of the change in interest rate on the carrying amount of the asset.
Tsuchiya Corporation manufactures a variety of products. Last year, the company's variable costing net operating income was $87,500.
Bonnie Jo purchased a used computer (5-year property) for use in her sole proprietorship. The basis of the computer was $2,600. Bonnie Jo used the computer in her business 60 percent of the time and used it for personal purposes the rest of the time ..
Receivables. What types of receivables are there? What internal controls could be in place to protect receivable management? How can uncollectable accounts be written off?
Prepare Kelsy's income statement for 2018. Omit EPS data. financial data for Kelsy Company for the year ended December 31, 2018.
From January 1 through the time of the fire, the company made purchases of $330,000 and had sales of $720,000. Assuming the rate of gross profit to selling price is 40%, what is approximate value of the inventory that was destroyed?
Ryan is debating whether to continue making 2,000 units of product A or to outsource the manufacture of this product. The total cost (variable and fixed) to Ryan to make Product A is $16 a unit. Ryan can buy Product A from the outside for $15 a unit...
The difference between human resourcemanagement and personnelmanagementis
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