User Account

All Pages

Which freight on shipments to branch paid by the branch

Assignment Help Accounting Basics
Reference no: EM132781254

Problem 1: The freight on shipments to branch paid by the branch is recorded by the home office as

a. Debit to freight-in

b. Credit to freight-in

c. Credit to investment account

d. Not recorded

Problem 2: Under fair value option, non-controlling interest would include its share of the following, except --

a. Book value of net assets acquired

b. Over and undervaluation of net assets due to change in fair value

c. Goodwill

d. Bargain purchase gain

Problem 3: If investment in branch account is greater than home office account, the home office might done the following, except

a. Allocated an expense to the branch, that the latter has not yet recorded

b. Shipped a merchandise to branch in transit

c. Recorded a depreciation expense

d. Received a return of inventory from the branch

Reference no: EM132781254

Questions Cloud

Analyze the motivations of the invading country : The exploitation of colonial resources and indigenous labor was one of the key elements in the success of imperialism. Such exploitation was a result.
Which the home office failed to : If the investment in branch account is less than the home office account, the home office failed to? Record a home office expense paid by branch
How can make such claim considering the brutality of slavery : In My Bondage and My Freedom, Frederick Douglass argues that slavery was an institution that "victimized" everyone - slaves, slave holders, and non-slave.
What is the firm weighted average cost of capital : Assume that the firm has a cost of debt of 7%, a cost of equity of 12%, tax rate of 30%; debt to total assets = 0.4. What is the firm's weighted average cost
Which freight on shipments to branch paid by the branch : Which freight on shipments to branch paid by the branch is recorded by the home office as? Under fair value option, non-controlling interest would include
What can be learned from the era for our own time : Identify at least one (1) practice in our own time that is similar to those in the 1920s or 1930s (beneficial or damaging). What can be learned from that era.
Why does god need to rest on the seventh day : Why does it take God six days to make everything? Why does God need to 'rest' on the Seventh Day? What other interesting things are implied about the ancient.
Calculate variable overhead spending variance : Calculate Variable Overhead Spending Variance if actual labor hours used are 360, standard variable overhead rate is $11.40 per direct labor hour
What is the required bad debt expense : What is the required bad debt expense adjustment to the Allowance for Doubtful Accounts at December 31, 2021

Reviews

Write a Review

Accounting Basics Questions & Answers

  How to specific country or region of the world

Thus far in class we've talked about many interesting topics in international accounting including international accounting standards, the history of accounting, IFRS vs. US GAAP, the FASB Codification, convergence, harmonization, foreign currency..

  Calculate the variable costs fxed costs and mixed costs

a department of omega co. incurred the following costs for the month of july. variable costs and the variable portion

  Prepare the condensed operating budget for shives

Barbara Collins is the manager of Shives, a fine dining restaurant, is preparing next year's budget. Prepare the condensed operating budget for shives

  If white corporation has outstanding 1000 shares of 9

if white corporation has outstanding 1000 shares of 9 cumulative preferred stock of 100 par and dividends have been

  Calculate the carrying value of the equipment

Calculate the gain or loss on the disposal under each of the following assumptions

  What misstatement this control should prevent

Identify three strengths in Jones' internal control concerning the purchases and payment for inventory. What misstatement this control should prevent

  What is the cost of goods sold for May

For the month of May, Latter Company has beginning finished goods inventory of $50,000, What is the cost of goods sold for May

  The sun valley corp has expected demand of custom engines

the sun valley corp. has expected demand of custom engines of 1000 engines. ordering cost per purchase order is 400.

  Discuss stacy beginning with income from operations

The corporation's tax rate is 30%. Prepare a partial income statement for Stacy beginning with Income from operations

  Determine the unit price factor for sales

The actual price for a product was $56 per unit, while the planned price was $50 per unit. Determine the unit price factor for sales

  Calculate profit margin and inventory turnover

What is the value of the group's sales revenue for the current and previous years? Calculate profit margin and inventory turnover

  Identifying each transaction with its corresponding letter

Harold Long started a business in May 20-- called Harold's Home Repair. Long hired a part-time college student as an assistant. Long has decided to use the following accounts for recording transactions.

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