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3 years ago

Under the current/noncurrent method

Business

1 answer:

sattari [20]3 years ago

6 0

Answer:

a)A foreign subsidiary with current assets in excess of current liabilities will cause a translation gain (loss) if the local currency appreciates (depreciates).

Explanation:

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When an intercompany inventory profit resulting from a sale by a less than 100% owned subsidiary to its parent is eliminated, th

joja [24]

Answer:

TRUE

Explanation:

It is true that when an intercompany inventory profit resulting from a sale by a less than 100% owned subsidiary to its parent is eliminated, the full amount (100%) of the decrease in profit is deducted from consolidated net income available to the parent shareholders.

Unrealized profits are the profit element not earned because they were not sold to third parties, it was basically a transfer between one company in a group (for example subsidiary) and another company in the same group (for example to the parent company).

At the year-end, if the goods are still in inventory, any profit thereon cannot be recognized but eliminated. Therefore for consolidation purposes, this unrealized profit element is taken out of inventory value in order to reduce the inventory value back down to the lower of cost or net realizable value.

This is done by crediting the inventory amount and debiting consolidated retained earnings.

3 0

3 years ago

At the beginning of the year, Uptown Athletic had an inventory of $640000. During the year, the company purchased goods costing

Nataly_w [17]

Answer:

Cost of Goods Sold = $1,700,000

Gross Proft = $1,740,000

Explanation:

We solve this assingemtn using the inventory identity:

$$$Beginning Inventory + Purchase = Ending Inventory + COGS$

We post the given and solve for the missing part:

640,000 + 2,020,000 = 960,000 + COGS

COGS = 640,000 + 2,020,000 - 960,000 = 1,700,000

Next we use the COGS value to calculate the gross profit.

$Sales \: Revenues- \: COGS = \: Gross \: Profit$

3,440,000 - 1,700,000 = 1,740,000

8 0

4 years ago

(Consider This) When the federal government started requiring restaurants to print calorie counts next to menu items:__________.

ArbitrLikvidat [17]

Answer:

D) consumption of higher-calorie items increased, contrary to the law's objective.

Explanation:

In the case when the federal government begins to print calories that are next to menu items so the higher calories item consumption would be rise that contrast to the objective of the law

So according to this, the option d is correct

and the rest of the options are incorrect

the same would be relevant

5 0

3 years ago

darby writes a check to education loan management inc, that is drawn on darbys account at federal bank. if thr bank does not acc

Aleksandr-060686 [28]

<span>Liability is on Darby because they were the one to write the original check and give it to the education loan management inc. Since the check wasn't accepted they have to take responsibility and liability for the fact that it was not accepted.</span>

5 0

3 years ago

Real estate property taxes generally range from 1 to 4 percent of the value of the home.

laiz [17]

Answer:

true

Explanation:

it is true about the number of percentage

8 0

3 years ago