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Question - X Inc. owns 80% of Y Inc. During 2018, X Inc. sold inventory to Y for $25,000. Sixty (60%) of this inventory remained in Y's warehouse at year end. The gross profit on this sale was $5,000 Y Inc. sold Inventory to X Inc. for $5,000. 40% of this inventory remained in X's warehouse at year end. The gross profit on this sale was $1,000. Both companies are subject to a tax rate of 40%. The gross profit percentage on sales is 20% for both companies. Unless otherwise stated, assume X Inc. uses the cost method to account for its Investment in Y Inc.
Required - Assume that Y Inc. reported an after-tax net income of $25,000 in 2018, what would be Y's adjusted net income for the year?
Kiddo Company manufactures and ships children's stuffed animals across the nation
Question - If a $1,000 zero coupon bond with a 20-year maturity has a market price of $311.80, what is its rate of return
What questions do you have about these speakers? Is there anything you want clarified regarding the observations of these speakers?
Plano sold 10 percent (31,000 shares) of Sumter's outstanding shares for $713,000 in cash. Record the annual dividends declared and received from Sumter Company
Compute the after-tax cost of debt for these bonds if Husky's marginal tax rate is 40 percent. Husky Enterprises recently sold an issue of 13-year maturity bond
Took advantage of discounts from the vendor of $270. At the end of the quarter the balance in inventory is $30,000. What is the cost of goods sold?
Green Curry, If the firm wants wants to have a debt ratio of 50% how much equity does it need to raise in order to finance the expansion?
$175,000 is invested in Stock A with a beta of 1.65 and the remainder is invested in Stock B with a beta of 0.75. What is her portfolio's beta?
How much would you need to invest in an investment account earning 1.32% APR compounded monthly so that you could afford that down payment in 7 years
What is a perpetual inventory system? What kind of businesses use perpetual inventory systems? What is a periodic inventory system?
There is a balloon payment of $1,000,000 at the end of year 8. Determine annual interest and principal payment for year 5
Assuming Sales, Profits, and Assets remain the same next year, what effect would you expect this new Leverage policy will have on Baldwin ROE?
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