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Sedaia [141]
4 years ago
6

On January 1, 20X1, Picture Company acquired 70 percent ownership of Seven Corporation at underlying book value. The fair value

of the noncontrolling interest at the date of acquisition was equal to 30 percent of the book value of Seven Corporation. On April 25, 20X1, Seven purchased inventory from Picture for $45,000. Seven sold the entire inventory to an unaffiliated company for $58,000 on October 12, 20X1. Picture had produced the inventory sold to Seven for $38,000. The companies had no other transactions during 20X1. Based on the information given above, what amount of sales will be reported in the 20X1 consolidated income statement?
Business
1 answer:
Lady bird [3.3K]4 years ago
7 0

Answer:

The amount of sales will be reported in the 20X1 consolidated income statement is $58,000

Explanation:

The computation of the amount of sales is shown below:

= Value of the entire inventory sold - purchased inventory + sale inventory

= $58,000 - $45,000 + $45,000

= $58,000

The purchased inventory + sale inventory would reflect the intra sales of the company which told that the sales are made within the company.

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A company that produced 1,000 units and sold 800 units had the following costs:
Troyanec [42]

Answer:

Option A,$800,000 is the correct option

Explanation:

Total product cost includes the direct material costs.direct labor costs as well as the manufacturing overhead.

The product costs only include costs incurred directly or indirectly in order to produce the products.

product costs=direct materials+factory building and equipment depreciation+factory insurance,utilities e.t.c+factory wages=$150,000+$250,000+$300,000+100,000=$800,000

6 0
4 years ago
You are a speculator who sells a call option on Australian dollars for a premium of $.03 per unit, with an exercise price of $.8
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Answer:

e. none of the above.

Explanation:

Based on the scenario being described within the question it can be said that your net profit per unit is none of the above. This is because since you are selling and the exercise price was set at $0.86 then the price lowering to 0.78 means that you sold at a much higher price than market value, which leads to about 0.08 profit per unit.

4 0
3 years ago
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4 0
4 years ago
To prevent monetary policy from becoming highly politicized, many countries have A. made their central banks be politically inde
ladessa [460]

Answer:

The correct answer is letter A. They made their central banks politically independent.

Explanation:

Central banks have become independent in developed countries due to their macroeconomic stability. Thus, to maintain it, the independence of the Central Bank was adopted, and this measure would have greater control of the issuance of money by the government to finance its spending. In this sense, the independence of the Central Bank removes the influence of parliament from monetary policy decisions, and also removes the influence on managers, with parliament only overseeing, making management more technical.

3 0
3 years ago
Ellen is employed by Software​ Inc., a software company located in the Silicon Valley of​ California, as a software manager. Her
Furkat [3]

Answer and Explanation:

Ellen should look for job or business that is similar to his former work so that Ellen does the least harm so, Ellen must join a software company.

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