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Elina [12.6K]
3 years ago
9

Patti Company owns 80% of the common stock of Shannon, Inc. In the current year, Patti reports sales of

Business
1 answer:
Nikitich [7]3 years ago
3 0

Answer:

$7,604,500

Explanation:

Total cost of goods sold:

= Cost of goods sold of Patti Company + Cost of goods sold of Shannon Inc.

= $7,500,000 + $160,000

= $7,660,000

Consolidated cost of goods sold:

= Total cost of goods sold - Intra-Entity sales added in cost of goods sold of Shannon Inc. + Unrealized profit on ending inventory eliminated by adjusting cost of goods sold

=  $7,660,000 - $60,000 + ($60,000 × 0.25) × 30%

= $7,660,000 - $60,000 + $4,500

= $7,604,500

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Simora [160]

<span>The answer to this question is Problem and solution organizational pattern. In Problem and solution organizational pattern it presents the problem and what caused the problem then explains the possible solution for the problem. Using this kind of organizational pattern, it can persuasive listeners and can tend to let the audience believe in the solution that the person is implying.  </span>

6 0
3 years ago
Ben Collins plans to buy a house for $188,000. If the real estate in his area is expected to increase in value by 3 percent each
Sunny_sXe [5.5K]

Answer:

The value after seven years from now is $231,216.29

Explanation:

The computation of the expected value would be seven years from now is shown below:

Here we use the future value formula i.e. shown below:

Future value = Present value × (1 + interest rate)^number of years

= $188,000 × (1 + 0.03)^7

= $188,000 × (1.03)^7

= $231,216.29

Hence, the value after seven years from now is $231,216.29

6 0
3 years ago
How you might reorient yourself to your own job
umka2103 [35]

Answer:

well, first I would start off by listening to others. I would also try to get along with anyone who comes in the job. Sometimes, people take the credit of the work you do, so instead of taking it out on others, deal with it yourself. Everyone has different levels of stress, but it is never ok to take yours out on others. |

|

|

v

( this is the funny answer)

I would start by stop clogging stall number 2, I am truly sorry for our poor custodian Edna. Poor, poor Edna. I would also stop using the printer for putting stupid pictures in others offices. The last time I put my butt on the printer, printed it, and put it on Stevens computer. The only thing Steven was able to open was my hairy butt crack.. I'm sorry Steven. So, I am trying, but ya know, life is a working process..

( hope that this made you laugh)

3 0
3 years ago
Who is Adam Smith and what is his belief about prices? Do you agree or disagree? Why?
andrew-mc [135]

Answer:

Adam smith is Abigail Smiths husband

Explanation:

They have been married for centies

4 0
2 years ago
Lewelling Company issued 101,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 4,100 hour
GenaCL600 [577]

Answer:

Paid in capital excess of par is $$309,000

Explanation:

<u>Journal Entries</u>

Debt: Legal services (4,100 hours × $100 per hour)  = $410,000

Credit: Common stock (101,000 shares × $1 par)  = $101,000

Credit: Paid-in capital - excess of par (Remainder)  = $309,000

To record the 101,000 shares compensated by 4,100 legal hours with $1 par value)

In the above transaction common stock issued in excess of par for legal services as compensation instead cash. Hence "legal services" have been debited as issuing company benefited for legal services. "Common stock" and "paid in capital in excess of par" has been credited as this issuing company issuing common stock.

Paid in capital excess of par is $$309,000

3 0
3 years ago
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