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During 2019, Y Company a 90% owned subsidiary sold inventory to its parent, X Company, for $1,000,000 at a 25% mark-up on cost. 30% of this inventory remained in X's inventory at December 31st. 2019. Both companies have a tax rate of 40% and a December 31st. year end.
Problem 1: What adjustment will be needed to arrive at X's consolidated inventory for the year ended December 31st. 2019? a. A deduction of $75,000 b. A deduction of $60,000 c. A deduction of $36,000 d. A deduction of $45,000.
Problem 2: What adjustment will be made to consolidated net income in 2019? a. An addition of $60,,000 b. An addition of $36,000 c. A deduction $60,000 d. A deduction of $36,000.
The material-handling costs allocated to one lens would be what amount and the material-handling costs allocated to one lens would be what amount? The cost driver for the material-handling activity is the number of material moves.
Your firm has debt worth $200,000, with a yield of 9%, and equity worth $300,000. It is growing at a 5% rate, and its tax rate is 40%. A similar firm with no debt has a cost of equity of 12%. What is the value of the firm according to MM with corpora..
During the month, merchandise is sold for $23,500 cash and for $34,000 on account. The cost of merchandise sold is $41,500. Illustrate what is the amount of gross profit?
Additional sales were made to Steven in 2009 at a transfer price of $75,000 that had cost Nicole $54,000. Only 10% of the 2009 purchases had not been sold to outsiders by the end of 2009. Illustrate what amount of unrealized inter-company inventory..
All of the following accounts are found on the income statement except.
eBay’s footnote regarding employee stock compensation details the grant of 2 million options during the year of 2013, the fair-value of which was computed as $15.39. If the options have, on average, a four-year vesting schedule and the company faces ..
Prepare a statement of retained earnings for the year ended December 31. Prepare a balance sheet (in report form) as of December 31. (Amounts to be deducted should be indicated by a minus sign.)
How the Capital Markets Authority can ensure faster growth and development of the Nairobi Stock Exchange or the Stock Exchange in your country.
Zimbardo interpreted the results of his simulated prison study as an indication of the. Which theory holds that a relationship must be profitable to endure
Which is not an advantage of leasing (to the lessee)? Which statement is false? A firm has 20,000,000 shares of stock outstanding at a price of $40 per share. They gave each shareholder the right to buy .25 shares of stock for $7 (4 rights would giv..
It is expected to pay a dividend of $1.25 what would be your return (hint: solve for kc and be careful about the dividend - it has already grown)?
Rockville: Rockville, Inc. which uses a job costing system, began business on January 1, 20X3 and applies manufacturing overhead on the basis of direct-labor cost. The following information relates to 20X3: Budgeted direct labor and manufacturing ove..
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