Markets and competition Identical products, as well as a large number of buyers and sellers, are characteristics of aperfectly c
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Answer: Step by step explanation of the consolidated balance sheet is given in the attached document.
Explanation:
Consolidated Balance Sheet
A consolidated balance sheet presents the assets and liabilities of a parent company and all its subsidiaries on a single document, with no distinctions on which items belong to which companies. If your company has $1 million in assets and it purchases subsidiaries with assets of $400,000 and $300,000, respectively, then your consolidated balance sheet will show $1.7 million in assets, and the sheet will commingle those assets. For example, in the asset section, accounts receivable will list the total amount of receivables held by all three companies.
When to Consolidate
A company must issue consolidated financial statements whenever it owns a controlling stake in another business – that is, whenever it owns more than 50 percent of that business. If the parent company owns 100 percent of the subsidiary, this is pretty straightforward. Complications arise, however, if the parent company owns a controlling stake with less than 100 percent ownership. Part of the subsidiary belongs to someone else, and that must be reflected on the balance sheet.
Answer:
<em>Total Cost Job 593 6557</em>
Explanation:
<em>Job 593</em>
DM 2,471
DL 1,406 ( 74 labor hours x $19 labor rate)
FO 2,680 (134 machine hours x 20 FO rate)
Total Cost 6557
<u>Remember, </u>for Direct Labor and machien hours, you needto multiply the amount of hour applied in the job by the rate.