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xeze [42]
3 years ago
13

PrintItem 4Item 4 On November 8, 2018, Power Corp. sold land to Wood Co., its wholly owned subsidiary. The land cost $61,500 and

was sold to Wood for $89,000. For consolidated financial statement reporting purposes, when must the gain on the sale of the land be recognized?
Business
1 answer:
IRISSAK [1]3 years ago
3 0

Answer: When Wood Co. sells the land to a third party.

Explanation: As stated in the question, Wood Co. who purchased the land is a subsidiary of the seller, Power Corp., the parent company. In a consolidated financial statement whereby financial reports of all entities, subsidiaries and all financial attachment of a corporate establishment is accounted for.

Power Corp. owns the entirety of Woods Co. and therefore during a consolidated financial statement reporting, the profit made by Power Corp. from the sale of the land must be recorded when the land is purchased from Woods Co. by a third party.

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You are to interview an entrepreneur, then summarize the interview questions. This assignment is worth 4 grades.
Trava [24]

Explanation:

An informational interview is a wonderful way to network and a fantastic way to learn more about a career in which you are interested in possibly pursuing. And these types of interviews don't just provide solid information to those interested in corporate careers.

If what you are interested in most is starting your own business rather than working for someone else, an informational interviews is a way to find out what it takes to be a successful entrepreneur and learn more about what running your own business entails. These types of conversations can also help you make a well-informed decision about whether running your own business fits into your vision for your life and career.

4 0
2 years ago
Fred Hash worked for Van Stavern Construction Co. as a field supervisor in charge of constructing a new plant facility. Hash ent
Eduardwww [97]

Answer:

<em>Ratification by Principal One of the criteria for enactment is that all material truths involved in the transaction must be known to the Principal. Van Stavern was not aware of Hash's behaviour. </em>

He did not realize that somehow the steel is being shipped under his name, and that the shipments were being billed him directly. Unlike liability through obvious authority, approval by the principal is a positive act by which he or she acknowledges the agent's illegal actions.

Just a principal would ratify; thus, Van Stavern was not directly imputed to information by the invoices and checks signed by Van Stavern's workers.

The court stated that the use of corporate checks was further proof that Van Stavern regarded the expenditures as business, not private. So Van Stavern could not be held personally liable.

Remember that on Sutton Steel that's not excessively harsh. Sutton understood it was working with a building company and did not seek to get the personal approval of the contract from Van Stavern.

<em>Lawfully, Sutton's agreement in this case is called an unaccepted offer which can be withdrawn at any time.</em>

<em></em>

6 0
3 years ago
Can someone help pick 1, 2,or 3 ?
ollegr [7]

Answer:

2no I think you are confused so

8 0
2 years ago
Sue Bee Honey is one of the largest processors of its product for the retail market. Assume that one of its plants has annual fi
NNADVOKAT [17]

Answer:

$75 per case

Explanation:

Required: Selling Price per case

Sales – Variable cost – Fixed cost = Target desired profit

Sales = 800000 case x Selling Price (SP)

Variable cost = (800000 case x $40) + (800000 x SP x 25%)

Putting into equation:

Sales – Variable cost – Fixed cost = Target desired profit

(800000 x SP) – [(800000 x 40) + (800000 x SP x 25%)] - $8000000 = $ 5000000

>800000SP – (32000000 + 200000SP) – 8000000 = 5000000

>800000SP – 32000000 – 200000SP – 8000000 = 5000000

>800000SP – 200000SP = 5000000 + 8000000 + 32000000

>600000SP = 45000000

>SP = 45000000 / 600000

>SP = $ 75

3 0
3 years ago
Read 2 more answers
Western Energy makes quarterly deposits into an account reserved for purchasing new equipment two years from now. The interest p
Iteru [2.4K]

Answer:

a. 2 years

b. 1 year

c. 12 times

Explanation:

Interest period is the duration of the deposit. It is the length of time the money would remain in deposit. This is 2 years according to the question

Compounding period = number of times interest would be paid. In the question, this is a year. So interest would be paid every year

The compounding frequency - it is the number of times the deposit would be compounded. It is 12 months

The future value of the deposit can be determined using this formula :  

FV = P (1 + r/m)^nm

FV = Future value  

P = Present value  

R = interest rate  

N = number of years

m = number of compounding  

8 0
2 years ago
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