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Vera_Pavlovna [14]
2 years ago
7

Investor owns 30% of Investee and applies the equity method. In 2020, Investor sells merchandise costing $240,000 to Investee fo

r $300,000. Investee's ending inventory includes $50,000 purchased from Investor.
Business
1 answer:
Ira Lisetskai [31]2 years ago
5 0

Answer:

We should eliminate 3,000 revenue for this sale as is considered intra-entity therefore, there is no gain realized.

Explanation:

The transactions intra-entity should be eliminated.

We should eliminate the revenue from the goods that are still in the inventory of the investee.

inventory sold:            300,000

remaining inventory:     50,000

remaining goods 50,000/300,000 = 1/6

Then, total revenue: 300,000 - 240,000 = 60,000

1/6 of this revenue is still in the investee 60,000 x 1/6 = 10,000

then we should eliminate the percentage of ownership we got on the investee

30% of this belong to the investor so it should be eliminated while the other 70% is kept.

10,000 x 30% = 3,000

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LuckyWell [14K]
I think tools, design, and materials
6 0
3 years ago
Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter’s pro
VLD [36.1K]

Answer:

raw materials    197900

accounts payable   197900

WIP   161830

factory overhead   5270

raw materials   167100

WIP   85500

factory overhead   7600

wages payables   93100

factory overhead   53000

accounts payable   53000

factory overhead   17150

acc. Dep-equipment   17150

dep expense*   14800

acc. Dep- Off Building   14800

WIP**   70965

factory overhead   70965

Finished Goods***   251747

WIP inventory   251747

Explanation:

* as the building is not related to the manufacturing process we cannot capitalized through inventory We will record as cost ofo the period therefore, depreciation expense

** the aplied overhead will be the amount of direct labor added during the period time 83%

85,500 x 83% = 85,500 * 0.83 = 70,965

*** we will have to add up the jobs cost to detemrinate how much of the work in process inventory becomes finished good

Job  Materials // Labor // Overhead

A20 $  37,740  $  19,200 + 19,200 x 0.83

A21  $ 44,320  $ 23,600 + 23,600 x 0.83

A23 $  41,770   $  27,100  + 27,100 x 0.83

Total 251,747

4 0
3 years ago
The employees at Violet Inc. are required to complete their work and leave the office premises by 6:00 p.m. Team outings are org
earnstyle [38]

Answer: Norms

Explanation:

According to the given scenario, the violet Inc are basically organized the team outing every month for their employees and the company are expected from every employee to be present in the outing.

The given scenario is basically exemplifies the norms as it refers to the attitude and also the behavior. The norms is one of the social values that helps for developing the personality and the human behavior.

Norms is basically defined the standards or the rules for the human on the basis of their attitude and behavior.        

  Therefore, Norms is the correct answer.

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3 years ago
Describe four areas of self-esteem discussed in the text and provide an example of each
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Answer:

la respuesta correcta es jdjfhf

5 0
2 years ago
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In a deposits-only monetary system (people hold no currency) with a 5% required reserve ratio, a bank deposit of $1,000 will inc
liraira [26]
The reserve ratio is the portion of the money of the depositor that should be available in cash in the bank. This amount should only be in the bank and not used for all other purposes. Hence, the balance money can be used for the bank operations, increasing the supply. 

In this item, we are given that the reserve ratio is only 5%. This means that, 95% of the money can be used by the bank for its operation. This amount can be calculated by multiplying the amount deposited by the decimal equivalent of 95%. That is,
          = ($1000)(0.95)
          = $950

Therefore, the money supply will increase by $950. 
5 0
3 years ago
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