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Questions -
Q1. TT Company holds 90 percent of BB Company's common stock. In the current year, TT reports sales of P800,000 and cost of goods sold of P600,000. For this same period, BB has sales of P300,000 and cost of goods sold of P180,000. During the current year, TT sold merchandise to BB for P100,000. The subsidiary still possesses 40 percent of this inventory at the current year-end. TT had established the transfer price based on its normal markup. What are the cost of goods sold?
Q2. TT Company owns 100 percent of the capital stock of both BB Corporation and CC Corporation. BB purchases merchandise inventory from CC at 125 percent of CC's cost. During 20x9, CC sold inventory to BB that it had purchased for P25,000. BB sold all of this merchandise to unrelated customers for P56,892 during 20x9. In preparing combined financial statements for 20x9, TT's bookkeeper disregarded the common ownership of BB and CC. What amount should be eliminated from cost of goods sold in the combined income statement for 20x9?
After reading Chapter 1 in your textbook, read the 2012 article from the Journal of Nursing Management, "What is strategic management?" Then discuss what strategic management is to you, and provide three examples of different types of strategies ..
Heinlein Corporation is financed with 0.4 percent debt and the rest equity. What is Heinlein unleveraged beta
Information concerning the common stock of Morris Company as of November 30, What the price-earnings ratio for Morris Company's common stock
Kelly Jones and Tami Crawford borrowed $15,750 on a 7-month, 8% note from Gem State Bank to open their business, JC's Coffee House.
Nguyen Company had net credit sales of $650,000 during the year. What would be the adjusting journal entry to record Bad Debts expense at year end
Plot the monthly data and the regression lines for each of the following cost functions: Which cost driver for manufacturing overhead costs would you choose? Explain. Choynski anticipates 2,600 machine-hours and 300 batches for next month. Using the ..
What factors might occur during the season that would alter the volume sold and thus the break-even price Annie might charge?
The company rate of income tax was reduced from 40% to 35%. Find the adjustment to income tax expense to recognise the impact of the tax rate change
Consider the following information: Total current assets $78,632 and Deferred income taxes $3,210. What is the quick ratio
Athena firm started the year with retained earnings of $1,300,000. Their net income during the year. How much is retained earnings at the end of the year?
The employee has $99 in federal income taxes withheld. What is the amount of this employee's gross pay for the first week of January
EcoSacks manufactures cloth shopping bags. Estimate the materials, labor, and overhead costs for the coming year
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