What is the consolidated cost of goods sold

Assignment Help Accounting Basics
Reference no: EM131795285

Question - Bellgrade, Inc., acquired a 60 percent interest in Hansen Company several years ago. During 2011, Hansen sold inventory costing $75,000 to Bellgrade for $100,000. A total of 16 percent of this inventory was not sold to outsiders until 2012. During 2012, Hansen sold inventory costing $96,000 to Bellgrade for $120,000. A total of 35 percent of this inventory was not sold to outsiders until 2013. In 2012, Bellgrade reported cost of goods of $380,000 while Hansen reported $210,000 What is the consolidated cost of goods sold in 2010?

a) 465,600

b) 473,440

c) 474,400

d) 522,400

Reference no: EM131795285

Questions Cloud

Discuss what is her gross tax liability : What is her gross tax liability, rounded to the nearest whole dollar amount
When should the revenue be recognised by abc inc : ABC Inc. is a large manufacturer of machines. XYZ ltd,a major customer of ABC Inc.,has placed an order. When should the revenue be recognised by ABC Inc.
What is the capitalized equivalent cost of the investment : UB's is considering investing in new x-ray diffraction equipment for the Materials analysis lab. The machine will cost $115,000 and has an annual maintenance.
What aspects of the situation are under your control : What aspects of the situation are under your control? Explain.What aspects of the situation are out of your control? Explain
What is the consolidated cost of goods sold : In 2012, Bellgrade reported cost of goods of $380,000 while Hansen reported $210,000 What is the consolidated cost of goods sold in 2010
Purchases of goods and services : If the government increases its purchases of goods and services by $3,000 and the MPC is 0.8, GDP and income will eventually increase by
Prepare the work papers used for preparation of tax return : As a staff accountant at bellows and batten, you are to prepare the work papers used for preparation of the corporate tax return.
Explain why minimum wage reduces employment : Explain why minimum wage reduces employment. Who is most harmed by the minimum wage?
Discuss power an accountant wields within an organization : Discuss the power an accountant wields within an organization. How can the accountant ensure

Reviews

Write a Review

Accounting Basics Questions & Answers

  Find norm deductible loss

The car was covered by a $2,000 deductible insurance policy. Norm did not file a claim against the insurance policy because of a fear that reporting the accident would result in a substantial increase in his insurance rates. His adjusted gross inc..

  Overhead on the basis of direct labor hours

Jones Company allocates overhead on the basis of direct labor hours. It allocates overhead costs of $12,800 to two different jobs as follows: Job 1: (10 hours) = $6,400 Job 2: (10 hours) = $6,400

  Complete the cost schedule

Complete the cost schedule, identifying each cost by theappropriate letter (a) through (o).

  Johnson enterprises inc is involved in the manufacture and

johnson enterprises inc. is involved in the manufacture and sale of electronic components used in small amfm radios.

  How accounting standard are set influence of economic factor

Your outline should provide a map for your paper in which you discuss how accounting standards are set (including a brief history), the influences of economic, and political, financial and cultural factors.

  How much sales revenue should phoenix recognize

Assuming Phoenix is an accrual basis taxpayer, how much sales revenue should Phoenix recognize for tax purposes in 2015

  What are the par values of the corporation preferred stock

Scotch Company's common stock is currently selling on a stock exchange at $45 per share, and its current balance sheet shows the following stockholders.

  Veltri corporation is working on its direct labor budget

veltri corporation is working on its direct labor budget for the next two months. each unit of output requires 0.77

  Williams corporation purchased a depreciable asset for

williams corporation purchased a depreciable asset for 400000 on january 1 2010. the estimated salvage value is 40000

  Calculate the annual break-even point in dollar sales and

shirts unlimited operates a chain of shirt stores that carry many styles of shirts that are all sold at the same price.

  Combined statement of income and comprehensive income

Prepare a combined statement of income and comprehensive income for 2011, beginning with net income.

  Lonely guy repair service recently performed repair

lonely guy repair service recently performed repair services for a customer that totaled 400. somehow the bill was lost

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!

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