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meriva
3 years ago
8

Kordel Inc. acquired 75% of the outstanding common stock of Raxston Corp. Raxston currently owes Kordel $500,000 for inventory a

cquired over the past few months. In preparing consolidated financial statements, what amount of Raxston’s liability should be eliminated? Multiple Choice
a. $375,000.
b. $125,000.
c. $300,000.
d. $500,000.
e. $0.
Business
1 answer:
Nady [450]3 years ago
8 0

Answer:

what amount of Raxston’s liability should be eliminated? d.$500,000

Explanation:

At different levels of the consolidation, certain intercompany payables and receivables balances must be eliminated. Eliminations are only required in the context of a consolidation where the trading parties are both included in a given consolidation.

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Temka [501]
This is an initiative working habit.
5 0
3 years ago
On December 31, Year 1, Ott Co. had investments in marketable debt securities as follows: Amotized Cost Market value Mann Co. $1
Ahat [919]

Answer:

$29,000

Explanation:

The Held-to-maturity securities to be carried at amortized cost

The available-for-sale & trading securities to be carried at fair value (FV).

Therefore, the investment portfolio is reported at the following amounts:

Mann Co.   $10,000 (Cost)

Kemo, Inc.  $10,000 (Fair value)

Fenn Corp. $9,000 (Fair value)

Total           $29,000

So, Ott's December 31, Year 1, balance sheet should report total marketable debt securities as $29,000

7 0
3 years ago
The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the
Brut [27]

Answer:

$258,530

Explanation:

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Years

Units to be produced 10400 9400 11400 12400 43600

labor hour per unit 0.25 0.25 0.25 0.25 0.25

Total hours required 2600 2350 2850 3100 10900

Variable overhead per unit 1.70 1.70 1.70 1.70 1.70

Total variable overhead 4420 3995 4845 5270 18530

Fixed overhead 84000 84000 84000 84000 336000

Total manufacturing overhead 88420 87995 88845 89270 354530

Less: Depreciation 24000 24000 24000 24000 96000

Cash disbursement for manufacturing overhead 64420 63995 64845 65270 258,530

Therefore the company’s total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole will be $258,530

5 0
3 years ago
Old Economy Traders opened an account to short-sell 1,000 shares of Internet Dreams from the previous question. The initial marg
Molodets [167]

Answer:

a) 8,000

b) Yes

c) -60%

Explanation:

a) 8,000

b) Yes

c) -60%

) 8,000

a.the trader puts up=20000(1000*50%*40)

he lost $10000(1000*$10)

if he trader pays $2000 in dividend

the remaining margin=20000-10000-2000

$8000

b.) margin rate=equity /liability

8000/50000*100%=

16% , so we have a margin call

c.Equity decreases from 20000 to 8000 in 1 year

return= -12000/20000=-0.60

=-60%

4 0
3 years ago
__________________ is a political system in which the government tolerates little or no opposition but permits nongovernmental c
Luba_88 [7]

Answer:

Authoritarianism

Explanation:

an authoritarianism government will not tolerate opposition but will permit the existence of debate on some issues of public policy.

Is important to notice that Decracy does allow for opposition to the  government and relies on a healty opposition to keep the system working

While Totalitarianism will not tolerate any kind of though which is not in their belief system

7 0
3 years ago
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