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Butoxors [25]
3 years ago
11

Parent sold land to its subsidiary resulting in a gain in 2016, the year of transfer. The subsidiary sold the land to an unrelat

ed third party for a gain in 2019. Which of the following statements is true? a) A gain will be recognized in the consolidated income statement in 2019.
b) The subsidiary will recognize a gain in 2016.
c) No gain will be recognized in the 2019 consolidated income statement.
d) Only the parent company will recognize a gain in 2019.
Business
1 answer:
Vera_Pavlovna [14]3 years ago
8 0

Answer:

A gain will be recognized in the consolidated income statement in 2019.

Explanation:

In this scenario a company sells a land to its subsidiary in 2016, the subsidiary in turn sells the land to a third party for a gain in 2019. The gain will be recognised in the consolidated income statement of 2019 when the subsidiary sold the land to the third party.

Consolidated income statements are a presentation of the incomes and losses of a parent company and its subsidiaries within a given period. The groups are recognised as one economic entity.

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HandZone, a manufacturer of high-quality gloves and a variety of accessories, already has both computer-aided design and compute
alexgriva [62]

Answer:

computer integrated manufacturing.

Explanation:

Robotic process automation can be defined as a technical process which typically involves the automatic performance of a task by a computer-based software.

Computer-assisted manufacturing (CAM) can be defined as manufacturing process which typically involves the use of specialized computer systems to instruct, guide, and control the transformation process of inputs (raw materials) into finished goods (outputs).

Basically, computer-assisted manufacturing (CAM) avails manufacturers or business owners the ability to infuse process control into their production or assembly line and as such enhancing the level of production, performance and efficiency.

Generally, process control is mainly used in manufacturing industries such as food and beverages industries, oil and gas refinery industries, power (electricity) generation industries, chemical processing industries, and wastewater management industries where the production of materials from raw materials are continuously without any interruption.

Hence, the main purpose of computer-assisted manufacturing (CAM) is to ensure that the manufacturing process is done with better quality, consistency, safety standards and efficiency through the adoption (use) of specialized software applications for machine automation.

In conclusion, we can deduce that David is interested in computer integrated manufacturing.

5 0
3 years ago
Wattan Company reports beginning inventory of 11 units at $65 each. Every week for four weeks it purchases an additional 11 unit
larisa86 [58]

Solution:

Activity Units Units cost Cost of Goods Available

Beginning Inventory                11     $65.00      $715

1st week purchase                   11      $66.00     $726

2nd week purchase                 11      $67.00     $737

3rd week purchase                  11      $70.00     $770

4th week purchase                  11      $75.00     $825

Units available for sale            55

Cost of goods available for sale                       $3,773

5 0
4 years ago
1. Critical thinking requires setting high standards for yourself. True or false
VMariaS [17]

Answer:

True

Explanation:

3 0
3 years ago
Read 2 more answers
Suppose the direct foreign exchange rates in U.S. dollars are: 1 Singapore dollar = $0.7025 1 Cyprus pound = $2.5132 Based on th
dusya [7]

Answer:

In order to buy citrus fruits costing 10,000 Cyprus pounds 25,132 US dollars must be paid

Explanation:

From the information in the question we already know that 1 Cyprus pound is 2.5132 US dollars so in order to find out how much dollars will be needed to purchase fruits worth 10,000 cyprus pounds we will multiply 10,000 by 2.5132.

10,000*2.5132= 25,132

So in order to buy citrus fruits costing 10,000 Cyprus pounds 25,132 US dollars must be paid

6 0
3 years ago
Tony borrows $1300 at an annual interest rate of 6.0%. He receives the loan on the first day of the current month and will make
Vladimir [108]

Answer:

Tony will pay interest of $6.50 as part of the first loan payment.

Explanation:

Amount of Loan = $1300

Annual Interest  = 6%

Monthly interest rate = 6% / 12 = 0.5%

Monthly Loan Payment = $57.62

Monthly installment is compromised of the interest payment on the due balance and the principal payment.

Interest payment in first installment = $1300 x 0.5%

Interest payment in first installment = $6.50

Principal portion of first installment = $57.62 - $6.50

Principal portion of first installment = $51.12

4 0
3 years ago
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