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my points: If there are unrealized intercompany inventory profits from the prior period that are realized in the current period, the profit should be added to consolidated net income. Then, the income would need to be assigned to the shareholders of the company that made the intercompany sale (Baker, Christensen & Cottrell, 2012). Now, if the income was a result of a downstream sale, the income that is assigned to the controlling interest needs to be increased by the amount of the profit realized. However, if it was a result of an upstream sale, the income assigned to the controlling as well as the non-controlling interest needs to be increase at the time that the profit was realized (Baker, Christensen & Cottrell, 2012). Yes, important to know if the sale was upstream or downstream for the reasons described above; in addition, in order to appropriately assign the consolidated net income to the correct shareholder (Baker, Christensen & Cottrell, 2012). Question: an example of one of your points. If the sale from the Subsidiary to the parent takes place, we will need to reflect any NCI net income and Parent net income. If the inter company inventory is sold in the same month, the sales were $100,000 and the COGS was $50,000. The 50,000 reflects the cost of the purchase material. The parent owns 80%. There was no sales to end customers in the month by the parent firm. What might be the calculation and analysis on the profit? What about the consolidation?
Why overhead is applied to work-in-process versus using the actual overhead cost incurred in a given period.
Howard died in 2014, in addition to his $8.5 million of certificates of deposit and investment property worth $4 million
Prepare the company's journal entry to record the credit card sales for April 13 assuming the company deposited the receipts that same day.
michelle amp alexus inc. had the following items on their 123107 balance sheet cash
Journalize all transactions for Jo Jo Music. Round all amounts to the nearest dollar. (For notes stated in days, use a 360-day year.)
zabinski co. paid 150000 for a purchase that included land building and office furniture. an appraiser provided the
Over time what happens to the balance in the "premium" account? Assume the effectiveinterest rate method is used, does the premium account change more at the beginning or the end of the time to maturity?
Variable administrative expenses are expected to be 3 percent of sales, and fixed administrative expenses should total $34,200 per quarter, exclusive of depreciation.
Leppard Corporation sells DVD players. The corporation also offers its customers a 2-year warranty contract. During 2012, Leppard sold 20,000 warranty contracts at $103.80 each.
Explain the difference between absorption and variable costing income statements and discuss which method has a greater chance of manipulation by management.
cawley company makes three models of tasers. information on the three products is given
Suppose that in 2010, Global launches an aggressive marketing campaign that boosts sales by 15%.However, their operating margin falls from 5.57% to 4.50%. Suppose that they have no other income, interest expenses are unchanged, and taxes are the s..
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