The freedom to make your own decisions can be limited if the business you choose is a

Parker owned all of Odom Inc. Although the Investment in Odom Inc. account had a balance of $834,000, the subsidiary's 12,000 sh

Lorico [155]

Answer:

$128,400

Explanation:

Account balance $ 834,000,

Subsidiary's 12,000 at $56 per share. Odom Issued 3,000 at $70 per share

$ 56 X 12,000 = $672,000

$ 672,000+ $70 X 3,000 = $ 882,000

$ 882,000 X .80 = $ 705,600

$ 705,600 – $ 834,000 Investment Account Balance = $128,400

Therefore Reduction in Investment Account is $128,400

The Transaction affect the Investment in Odom inc account because their is reduction in the investment Account from $834,000 to $128,400

3 0

2 years ago

Talks-A-Lot, Inc. sells cell phones to customers and expects that 10% of phones sold will be returned for repair under its warra

poizon [28]

Answer:

amount of warranty liability that should be reported at December 31, 2021 is $3,375

Explanation:

When the Sale was made, the Warrant Liability is recorded as follows:

Warranty Cost $5,625 (Debit)

Warranty Provision $5,625 (Credit)

Warranty Cost = 750 cell phones × $75 × 10% = $5,625

When Warranty Claims were received during the year the records are as follows :

Warranty Provision $2,250 (Debit)

Cash $2,250 (Debit)

Warranty Cost = 30 × $75 = $2,250

At December 31, 2021 the amount of warranty liability should be

Warranty Provision = $5,625 - $2,250 = $3,375

6 0

2 years ago

Tony works as a salesperson at Franklin Delights, a company that specializes in labor-saving kitchen appliances. When Tony gives

klasskru [66]

Answer: adaptive selling

Explanation: In simple words, adaptive selling refers to the ability under which an employee changes his or her behavior with the change in the status of the clients.

Under such style of selling, the salesman performing highly focus on the type of customer, the situation in which sales is made and the feedback received and tailors his or her approach to sales accordingly.

In the given case, Tony is stating different facts regarding the product for different customers. Hence we can conclude that he is doing adaptive selling.

7 0

2 years ago

Amelia started an online jewelry business. She is the only owner. This is an example

AveGali [126]

Answer:

limited liability company

5 0

2 years ago

The entry to record the amortization of a patent would include a debit to __________ and a credit to __________. Amortization Ex

Advocard [28]

Answer: Amortization Expense; Patents

Explanation:

The entry to record the amortization of a patent would include a debit to the amortization expense and a credit to the patents.

The journal entry will be:

Debit Amortization expenses XX

Credit Patents XX

Therefore, the correct option is A.

6 0

2 years ago