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faltersainse [42]
3 years ago
9

Patti Company owns 80% of the common stock of Shannon, Inc. In the current year, Patti reports sales of $10,000,000 and cost of

goods sold of $7,500,000. For the same period, Shannon has sales of $200,000 and cost of goods sold of $160,000. During the year, Patti sold merchandise to Shannon for $60,000 at a price based on the normal markup. At the end of the year, Shannon still possesses 30 percent of this inventory. Assume the same information, except Shannon sold inventory to Patti.
Compute consolidated sales.
Business
1 answer:
Elden [556K]3 years ago
8 0

Answer:

$10,140,000

Explanation:

To make consolidated statements company needs to consolidate the financial data of its own and its subsidiary.

Revenue can be consolidated of parent and subsidiary as follow:

First

Add revenue of both companies

Total Sales = Patti Company sales + Shannon Inc. sales

Total Sales = $10,000,000 + $200,000 = $10,200,000

Now deduct the sale made to each other because sales mad within the group is not recorded for consolidation purposes and it is not a sale for a group it is an internal group transfer.

Consolidated Sales = Total sales - Internal Sales

Consolidated Sales = $10,200,000 - $60,000 = $10,140,000

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Answer:

Americans with the Disability Act of 1990.

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Which of the following is true regarding positive organizational scholarship? a. It involves monitoring negative practices in or
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Answer:

Letter D is correct. It studies how organizations develop human strengths, foster vitality, and unlock potential

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3 0
3 years ago
Select the correct texts in the passage.
saw5 [17]

Answer:

All of the given actions will certainly and definitely lead towards customer satisfaction except "letting a call last as long as possible to avoid other calls".

Explanation:

As Roberta is a customer service representative at a car rental company, she needs to understand, be empathetic, cooperative, considerate, polite and friendly with her customers in all cases all the time.

All of the actions;

Answering customer call promptly (Ultimately resulting in happy and satisfied customers, because customers will have to bear less time to waiting in queues because she can answer and handle as many as call as she can in a less time, consequently, more calls resulting in more number of satisfied customers)

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Resolving customer complaints in record time (She was awarded with customer service award because she resolved customer complaints in a record time. She got the award because she took very less time in handling and solving customer complaints, therefore more satisfied customers)

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Except

Letting a call last as long as possible to avoid other calls (because customers have to bear more wait for their turn, staying more time in waiting, will undoubtedly, make them frustrated) might make them unsatisfied.

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3 years ago
What year was the sale of goods and supply of services act passed ?
velikii [3]
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