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Questions -
Q1. KK Corporation owns 80 percent of LL Corporation's common stock. During October, LL sold merchandise to KK for P100.000. At December 31, 50 percent of this merchandise remains in KK's inventory. Gross profit percentages were 30 percent for KK and 40 percent for LL. The amount of unrealized intercompany profit in ending inventory at December 31 that should eliminated in the consolidation process is?
Q2. KK Co. holds 90% of the common stock of LL Co. During 20x2, KK reported sales of P1,120,000 and cost of goods sold of P840,000. For this same period, LL had sales of P420,000 and cost of goods sold of P252,000. Also during 20x2, KK sold merchandise to LL for P140,000. The subsidiary still possesses 40% of this inventory at the end of 20x2. KK had established the transfer price based on its normal markup. What are consolidated sales?
Compute the equivalent units of production for the first department for April, assuming the company uses the weighted-average method
What is the net present value of a project with the cash flows, if the discount rate is 10 percent - How long will it take the firm to recover its initial investment in this project?
life insurance proceeds. joe is the beneficiary of a life insurance policy taken out by his father several years ago.
Construct a tine series plot. What type of pattern exists in the data? Develop the linear trend equation for this time series.
Hometown, located in the north central United States, had a population of about fifty thousand. There were two travel agencies in Hometown before Canterbury Travels opened its doors.
Average Operating Assets of $300,000, and the company's required return is 13%. What is Keith's Department's Return On Investment
Pretax financial income for 2011 $900,000. In Mitchell's 2011 income statement, what amount should be reported for total income tax expense
On January 1, 20X1, your company purchases for $550,000 a machine with an estimated useful life of 10 years, calculate the 20X2 depreciation expense
The British High Flower Company produces plain napkins and floral napkins. What is the cost per plain napkins
savrocca accountant for shine king cleaning is attempting to reconcile the monthly bank account.nbsp savrocca has the
Assuming Strange Corporation applies IFRS, make its journal entries for the purchase of the investment and receipt of semi-annual interest
You plan to retire when you have $1,000,000 in savings. You can make a deposit of $350 per quarter into a retirement saving account that pays 12 percent annual.
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