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Vedmedyk [2.9K]
3 years ago
9

Walsh Company sells inventory to its subsidiary, Fisher Company, at a profit during 2012. One-third of the inventory is sold by

Walsh uses the equity method to account for its investment in Fisher.In the consolidation worksheet for 2012, which of the following choices would be a credit entry to eliminate the intra-entity transfer of inventory?
A. Retained earnings.B. Cost of goods sold.C. Inventory.D. Investment in Fisher Company.E. Sales.
Business
1 answer:
Ivanshal [37]3 years ago
7 0

Answer:

A. Retained earnings

Explanation:

At the end of the period, the temporary accounts are closed, their balance is transfer to retained earnings, so the COGS and the sales revenue involved in the intra-entity transfer are contained in the retained earnings account

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Costs that are NOT affected by the quantity of a product sold are _______ costs. Examples of these costs include rent, insurance
Dvinal [7]

Answer:

The correct answer is fixed costs.

Explanation:

Fixed costs are the cost that is spent on fixed inputs. They do not vary with the level of output. For instance insurance, rent, etc. They do not change with the change in the quantity of product, unlike variable costs.  

The variable costs are the cost incurred on variable inputs. They vary with the level of output produced.

6 0
3 years ago
William is a 38-year-old computer systems executive. He has come to a point in his life where he is reassessing his ambitions an
Pavel [41]

Answer: D. make a conscious choice to do so

Explanation:

Based on the information given, in order to attain a "right livelihood," William needs to make a conscious choice to do so.

Option A is wrong as getting promoted so he can delegate more of his work doesn't guarantee him that he'll relax more and enjoy right livelihood. When he's promoted, he'll have more work and this means that there'll be more responsibility. This will hinder him from enjoying right livelihood.

Option B and C are wrong as well as losing weight and getting in better shape and also de-emphasize the spiritual side of his life doesn't make one enjoy right livelihood.

Option D is the correct answer as he should make a conscious choice to attain the right livelihood and have enough rest that he desires.

5 0
3 years ago
HELP PLZZZ NEED THIS FAST
Helen [10]
My head hurts reading this...
6 0
3 years ago
Read 2 more answers
On January 1, 2018, Jolley Corp. paid $250,000 for 25% of the voting common stock of Tige Co. On that date, the book value of Ti
shusha [124]

Answer:

            Dr. Investments in Associates 250,000

            Cr.            Cash                                 500,000

          Dr. Cash                                   10,000

          Cr.            Investments in Associates 10,000

          Dr. Investments in Associates 50,000

          Cr.     Investment revenue                    50,000

Explanation:

The equity method is a type of accounting used to incorporate investments. It is used when the investor holds significant influence over the investee but does not exercise full control over it.

An investor is deemed to have significant influence over an investee if it owns between 20% to 50% of the investee’s shares or voting rights.

- Jolley receives dividends of $10,000, which is 25% of $40,000, and records a reduction in their investment account. The reason for this is that they have received money from their investee.

- Jolley records the net income from Tige Co. as an increase to its Investment account.

4 0
3 years ago
_____ is a rater error in which a rater gives high ratings to all employees regardless of their performance.
Ilya [14]

Answer:

Leniency

Explanation:

Leniency is a rater error in which a rater gives high ratings to all employees regardless of their performance.

Leniency error is when a rater has the tendency to rate all employees at positively, this is positive leniency and occurs at the top of the rating scale or at the low end of the scale negative leniency. Leniency error happens when a manager emphasizes too much on positive or negative behaviors

5 0
3 years ago
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