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scoray [572]
3 years ago
13

A newly created subsidiary sold all of its inventory to its parent at a profit in its first year of existence. The parent, in tu

rn, sold all but 20 percent of the inventory to unaffiliated companies, recognizing a profit. The parent had no other sales during the year. The amount that should be reported as cost of goods sold in this year's consolidated income statement should be:
Business
1 answer:
IrinaVladis [17]3 years ago
4 0

Answer: b. 80 percent of the amount reported as cost of goods sold by the subsidiary.

Explanation:

On the <em>consolidated income statement</em>, the amount that should be recorded for cost of goods sold is the amount that corresponds with the sale of the goods away from the company as a whole or rather sales to unaffiliated companies.

As a result of this, only 80% of the amount reported as cost of goods sold would be recorded in the consolidated income statement because it was 80% of the goods were sold to unaffiliated companies.

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The money left over after all of the business costs are subtracted is called the __________.
Ulleksa [173]

the awnser is B.Net profit

6 0
3 years ago
Which of the following functions includes identifying the sources of risk and may include offering advice on controls that can r
Kaylis [27]

Answer:

It is Risk Assessment

Explanation:

Risk Assessment is process of  identifying and analyzing potential events that may negatively impact on the business either as individual or in aggregate and prevent the company from achieving its objectives.

Each business has its own inherent risks and a conscious efforts must be made to identify and analyse them using impact assessment. Necessary measures must be put in place to prevent or reduce their impacts.

4 0
3 years ago
For each part below, write a short essay (around 8 sentences) to provide arguments for and/or against the claim presented in tha
9966 [12]

Explanation:

a) A free market would allow the laws of demand and supply to flourish; prices of commodities will be set by manufacturers based on demand. However, Government regulations which interfere with the free market is going to result in feeling the pain of monopoly.

b) Indeed, the price mechanism when controlled by the government can result in efficient provision of public goods.

One such example of a public good ls PMS (premium motor spirit) used as petrol in most vehicles. Controlling the price of petrol by the government in most cases helps avoid excessive charges from petrol stations per pump price.

4 0
3 years ago
the housing prices in pangea are decreasing by 2% each year. at the beginning of this year, the average house cost $180,000. wha
Blizzard [7]

The average house cost after 10 years would be  $147,073.11.

<h3>What will be the average house cost after 10 years?</h3>

The cost of house is reducing with the passage of time. This means that the cost of house in 10 years would be cheaper than it is today.

The formula that can be used to determine the cost of a house in 10 years is:

FV = P (1 - r)^n

  • FV = Future value
  • P = cost of a house today
  • R = rate of decline
  • N = number of years

180,000 ( 1 - 0.02) ^10

180,000 x 0.98^10 = $147,073.11

To learn more about future value, please check: brainly.com/question/18760477

#SPJ1

8 0
1 year ago
Process accounting's solution for nonuniform manufacturing inputs is
cricket20 [7]
Process accounting's solution for nonuniform manufacturing inputs is: calculate equivalent units for each category of manufacturing output. 


Process costing, process accounting, is used in cost accounting. This is known for collecting and assigning manufacturing costs to the good produced. Process costing is used to get each item down to the same cost per produced good and in large sums. 

3 0
2 years ago
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