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3 years ago

Why must the eliminating entries be entered in the consolidation worksheet each time consolidated statements are prepared?

Business

1 answer:

DedPeter [7]3 years ago

8 0

Answer:

The reason to prepare the consolidation worksheet is to maintain the record of what is finally entered in the books to record the transactions in between the holding and subsidiary.

This basically thus, requires the elimination of all the assets and liabilities of the subsidiary, and creation of such assets and liabilities into the balances of the holding(parent) company. In this manner the elimination is necessary to record.

So that there is no error in the form of multiple record of assets and liabilities, or in the form of no record of assets and liabilities of the subsidiary.

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Managers today need to look past traditional viewpoints in determining the success of their company's strategy. One such approac

bogdanovich [222]

Answer:

The Balanced Scorecard

Customer satisfaction:

Perspective: Customer: This perspective concentrates on things like customer service.

Goal: Service: This would be the level of customer service.

Measure: How do our customers see us? Survey: This would be the results of an online customer satisfaction survey.

Internal processes:

Perspective: Internal business: This perspective focuses on the things that a company has to do internally to meet and exceed customer expectations.

Goal: Productivity: This would concentrate on changes to the process involved in production.

Measure: How do we look to our shareholders? Analysis: This would use data from the ERP system to look into success levels of company processes.

Innovation and improvement activities:

Perspective: Innovation and Learning: This perspective is concerned with making sure employees learn and grow so they can continually innovate.

Goal: Training: This would focus on providing enhanced training opportunities for employees.

Measure: What do we need to excel at? Results: This would look at changes in the skill level of employees.

Financial measures:

Perspective: Financial: This perspective has to do with the conversion of performance into financial performance and the creation of value.

Goal: Growth: This would concentrate on an increase in sales.

Measure: Can we continue to improve and create value? Sales: This would be the annual sales figures.

Explanation:

The balanced scorecard which Bryan is developing for KanO Mines helps KanO Mines to understand how to create value in the organization. With the balanced scorecard as a strategic planning and management tool, organizational goals are communicated to KanO Mines, so that his daily activities are aligned with the organizational strategy. It also helps him to prioritize his projects, products, and services. The balanced scorecard does not only deal with perspectives and goals, it also helps KanO Mines and his manager, Bryan, to measure and monitor his progress towards achieving the set organizational strategic goals.

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3 years ago

Natasha, nelson, and nikolai are all looking to buy flashlights for a camping trip. natasha is willing to pay $4, nelson is will

d1i1m1o1n [39]

Consumer surplus is the difference between the total amount a consumer is willing to pay for an item and what they actually pay. The total amount that Natasha, Nelson and Nikolai are willing to pay for the flashlight is $34, the amount they do pay is $20. So, the total consumer surplus for them is $14.

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3 years ago

Lake Co. receives nonrefundable advance payments with special orders for containers constructed to customer specifications. Rela

omeli [17]

Answer:

Lake Co.

Current Liability for Advances from Customers in Dec. 31, 2021 balance sheet:

Amount to report as current liability for advances from customers:

= $127

Explanation:

Advances from Customers:

Dec. 31, 2020 balance $120

Cash received 189

Total liability $309

Earned Revenue 182

Current liability $127

Advances, which Lake Co., received from customers for orders not yet fulfilled are recorded as deferred revenue or liabilities because Lake Co. is still owing the respective customers until the services or goods are provided. Earned Revenue is the value of revenue that would be reported in the income summary for which exchange of value or promises had been completed.

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2 years ago

What is an example of a health hazard? moldy floorboards

il63 [147K]

Health hazards are hazards that are health related, not safety hazard! Loose railings, hot water, and blocked doorways are safety hazards, but they aren't bad for your health. Moldy floorboards could be hazardous towards your health, so that's your answer!

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3 years ago

Read 2 more answers

On September 25, 2014 Colson Corp. sold 200,000 widgetrons to Cavanaugh Corp at $5 per unit. Half of the units were delivered on

scoundrel [369]

Answer:

Colson's Total revenue in 2014=$700,000

Explanation:

This can be expressed as;

Colson's total revenue in 2014=Initial amount paid+First installment paid on November 15, 2014

where;

Initial amount paid=40% of Contract price

Contract price=Cost per unit×Number of units=(5×200,000)=1,000,000

Initial amount paid=(40/100)×1,000,000=$400,000

First Installments paid=(Contract price-Initial amount paid)/2

(1,000,000-400,000)/2=300,000

Replacing in the expression above;

Colson's Total revenue in 2014=(400,000+300,000)=$700,000

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3 years ago