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3241004551 [841]
3 years ago
13

Additional sales were made to Larry by Bird in 2018; inventory costing $24,000 was transferred at a price of $40,000. Of this to

tal, 30% was not consumed until 2019. Larry should record equity income in Worthy in 2018 of _______.
Business
1 answer:
Alona [7]3 years ago
7 0

Answer:

$11,200

Explanation:

As not mentioned in the account. It is Assumed that the Larry and Bird are related parties and Bird made a sale at a transfer price of $40,000 with $24,000 cost of inventory.

Bird can only recognize the equity up to the ratio of inventory used or sold by the related party.

As 30% was not consumed then consumption will be 70%, so 70% of the income is realized and it will be recorded.

Equity Income = $40,000 - $24,000 = $16,000

Realized Equity income = $16,000 x 70% = $11,200

* There is some ambiguity in the question given.

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The company has 15 employees, who earn a total of $1,960 in salaries each working day. They are paid each Monday for their work
I am Lyosha [343]

Answer:

Preparation of the adjusting entries as of December 31, 2015.

Dr Salaries Expense 3,920

Cr Salaries Payable 3,920

Explanation:

Since we were been told in the question that all the 15 employees worked the first 2 days of that week, the Adjustment we therefore be $3,920( 1,960×2) . And the transaction will be recorded as:

Dr Salaries Expense 3,920

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The Adjustment will be :

1,960 x 2 = 3,920

Therefore the pay that occured in New Year's Day will not be used because it falls in the next year.

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3 years ago
According to classical macroeconomic theory, changes in the money supply affect:_______.
Ivahew [28]

Answer:

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Explanation:

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3 years ago
If the company in california had trademark protection on the name wizard, could there still be a violation even if there was no
Mashutka [201]
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3 years ago
Naturally<br>an<br>atom<br>is<br>netural<br>in<br>charge​
Helen [10]

I can't understand what u write

6 0
3 years ago
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DUE TODAY PLEASE HELP T^T
Sindrei [870]

Answer:

TRUE TRUE TRUE

Explanation:

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