Answer: The correct answer is d. None of the above is correct.
Explanation: The intercompany gain realized would be recognized in the parent company's financial statements while at the consolidated position, the gain will be eliminated. For the parent to have recognized a gain on the capital asset, that means the proceed from sale was more than the net book value of the asset. So, there is no consolidated taxable income as regards this gain.
The $50,000 gain will be recognized by the subsidiary since it was sold to a nonmember of the group. However, it will not be nil at the consolidated position because it is not an intercompany transaction.
Answer:
$5,000 will be distributed to preferred stockholders and $45,000 will be distributed among common stockholders.
Explanation:
The accrued dividend on preferred stock based on predetermined rate or amount is known as preferred stock dividend. Preferred stock has priority over common stockholders, It means that dividend will be given to preferred stockholder first.
Preferred stock dividend = 4,000 shares x $25 x 5% = $5,000
Common stock dividend = $50,000 - $5,000 = $45,000
Answer:
The omission of this entry understated accrued liabilites. given that the related inventory was sold in year 1, it aslo overstated net income and retained earnings by understating cost of goods sold, the same effects would occur if the insurance costs were chargeable to expense as a period cost
Explanation:
Rules specify that contingent liabilities should be recorded in the accounts when it is probable that the future event will occur and the amount of the liability can be reasonably estimated. This means that a loss would be recorded (debit) and a liability established (credit) in advance of the settlement.
Answer:
Distribution and Logistics
Explanation:
Logistics are the activities of a company related to distributions of its product. It encompasses all efforts of moving goods from the factory to the retailers for sale to the customers. Transport and warehousing are part of logistics.
The distribution and logistics department plans, organize, and manages the movement of products to their intended destination. Nikki is most likely to be in the distribution and logistics career path. She ensures that the supply chain is running efficiently and tracts the movement of products.
A mechanistic organization is one that has divides between departments, centralized authority, and specialized tasks that operate independently of one another.
In mechanistic organization producers of organic food rely as much as they can on organic ingredients and farming techniques that are physical, mechanical, or biological in nature. Produce can be labeled organic if it was grown on soil that wasn't treated with prohibited substances for three years previous to harvest, according to certification. Artificial fertilizers, pesticides, or herbicides are not used in the production of organic foods. Animals that are fed organic feed and aren't given hormones or antibiotics produce organic meat, eggs, and dairy products. The components and additives in natural foods are not manufactured or artificial. Decentralization or decentralisation is the process through which an organization's operations are disseminated or delegated away from a central, authoritative location or group, particularly those relating planning and decision-making. Last year, we opened a number of regional offices and dispersed our operations. We can now easily decentralize thanks to modern technology.
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