User Account

All Pages

What amount should pp report as cost of sales

Assignment Help Accounting Basics
Reference no: EM133156269

Question - During 20x9, PP Corporation recorded sales of inventory costing P500,0000 to SS Company, its wholly owned subsidiary, on the same terms as sales made to third parties. At December 31,20x9, SS held one-fifth of this goods inventory. The following information pertains to PP and SS's sales for 20x9: in its 20x9 consolidated income statement, what amount should PP report as cost of sales?

Reference no: EM133156269

Questions Cloud

What amount should dayrit report as interest receivable : Interest is receivable every April 1 and October 1. What amount should Dayrit report as interest receivable in its December 31, 2022 balance sheet
Business intelligence and analysis for decision support : Create a documentation that summarizes main concept and techniques - what the challenges are and how you handle them, and include at least one piece of examples
Describe cuisine by using one-word hashtag : How can you describe our cuisine by using one-word hashtag. And, explain in no more than 4 sentences as to why you had came up with this answer.
Prepare the journal entry to record the purchase : Slinky Company purchased merchandise on June 10, 2021, at a price of $21,000, subject to credit terms of 3/10, n/30. Prepare journal entry to record purchase
What amount should pp report as cost of sales : The following information pertains to PP and SS's sales for 20x9: in its 20x9 consolidated income statement, what amount should PP report as cost of sales
Difference between general partnership-limited partnership : Comparison/Difference Between General Partnership, Limited Partnership, and Joint Venture. (Write four Differences at least). No Complex words! and Don't need a
Difference between plagiarism vs self-plagiarism : What is an Information Technology Project? Explain the difference between plagiarism vs self-plagiarism?
Inviting the centre manager to a meeting date : You work for Bounce fitness as a HR manager. Your task is to review performance of a Centre Manager. It was reported to you that the Centre Manager is not meeti
Research the variety of enumeration tools : Research the variety of enumeration tools available. Select one tool and explain what it does, how it works and what type of information it extracts

Reviews

Write a Review

Accounting Basics Questions & Answers

  Describe how each would benefit the community

In the book Pour Your Heart Into It, in chapter 11, Schulz talks about how businesses fail because leaders cannot execute. Perhaps this is because they are not.

  What annual return on investment did you earn

What annual return on investment did you earn on your grandfather's purchase

  What accounts and amounts would you credit

Richardson Inc. issued 3,000 shares of $10 par value common stock at $15 per share for cash. What Account/s and Amounts would you CREDIT

  Discuss the influence fixed manufacturing-overhead cost

Discuss the influence fixed manufacturing-overhead cost should have on the sales price quoted Excalibur for special orders

  Calculate Robert adjusted gross income for the year

Robert did not repay the loan during the year and used the money for living expenses. Calculate Robert's adjusted gross income for the year

  What are some typical on-the-job training techniques

What are some typical on-the-job training techniques? What do you think are some of the main drawbacks of relying on informal on-the-job training

  What is our margin of safety in dollar and unit

Give Contribution Margin Ratio. If we sell 3600 Units What is our Margin of safety in dollar and Unit

  The following columnar headings are suggested

The double-declining-balance method. Also determine the total depreciation expense for the three years by each method. The following columnar headings are suggested for recording the depreciation expense amounts:

  Calculate cost of each unit of production for each project

Future at the same cost. Calculate the cost of each unit of production for each project assuming 300 days of production per year at an MARR of 12%.

  Attribute sampling plan-determining large expenditures

An auditor uses an attribute sampling plan to determine whether large expenditures are being properly approved. The auditor is willing to accept a 2% risk of assessing control risk too low, and has a tolerable rate of 5%.

  What are the problem involve in profit maximization

Question - What are the problem involve in profit maximization? How wealth maximization overcome the problem arises from the goal of profit maximization

  Problem related to calendar year tax-payer

On January 1, Gull Corporation (a calendar year taxpayer) has accumulated E & P of $200,000. During the year, Gull incurs a net loss of $280,000 from operations that accrues ratably. On June 30, Gull distributes $120,000 to Sharon, its sole shareh..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd