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frosja888 [35]
3 years ago
9

Stiller Company, an 80% owned subsidiary of Leo Company, purchased land from Leo on March 1, 2017 for $75,000. The land original

ly cost Leo $60,000. Compute the gain or loss on the intra-entity sale of land that Leo would recognize on their individual accounting records. Group of answer choices a) $15,000 loss b) $15,000 gain c) $50,000 loss d) $50,000 gain e) $65,000 gain.
Business
1 answer:
Ierofanga [76]3 years ago
7 0

Answer:

$15,000

Explanation:

In leo company books, the gain recognized would be $75,000 - $60,000 = $15,000 as they are selling the land $15,000 more than it initially cost them

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Using the weighted-average method, the equivalent units for materials are: 33,000. 41,000. 36,000. 44,000. 32,000.
ANEK [815]

Answer: $44,000

Explanation:

Equivalent units for materials in this scenario would be:

= Units completed and transferred out + Normal spoilage + Ending work in process

= 33,000 + 3,000 + 8,000

= $44,000

3 0
3 years ago
Soundgarden Company sold 200 color laser copiers on July 10, 2020, for $4,000 apiece, together with a 1-year warranty. Maintenan
ziro4ka [17]

Answer:

Soundgarden Company

Journal Entries:

July 10, 2020:

Debit Cash Account (or Accounts Receivable) $800,000

Credit Sales Revenue $800,000

To record the sale of 200 copiers at $4,000 apiece.

July 10, 2020:

Debit Warranty Expense $66,000

Credit Warranty Liability $66,000

To record the estimated warranty maintenance on copiers sold.

December 31:

Debit Warranty Liability $17,000

Credit Inventory $17,000

To record actual warranty costs incurred.

Explanation:

Soundgarden should record these transactions according to the matching principle, whereby warranty expense is recognized in the period that matches the sale so that all expenses related to sales are recognized when the sales are recognized.  This is achieved by creating a warranty liability account after the sales and recording a warranty expense as the debit entry.  When actual warranty costs are incurred, the Soundgarden Company will debit the warranty liability and credit the inventory actual for the actual costs.

7 0
4 years ago
Sal is very clear in defining for his subordinates the incentives available to them for different levels of performance. He make
sergejj [24]

Answer: d. path–goal

Explanation:

The Path-goal theory of leadership espouses that leaders should be dynamic and use whichever leadership style would be best suited to the abilities of their subordinates and the work environment that they are in.

It is then divided into four styles with the relevant style here being the "directive path-goal clarifying leader behavior". Under this style, the manager specifies exactly what it is that they want from the employees and then rewards them when they meet the required objectives.

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3 years ago
Which of the following will not help a firm speed up the timing of when it can obtain the use of funds from checks written to it
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Answer:

The correct answer is C

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This account will not speed up the timing when use the funds from the checks  written as it has keep a zero balance in the account.

6 0
4 years ago
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emmainna [20.7K]

Answer: B. mental processes

Explanation: In the context of the six sections of the Position Analysis Questionnaire (PAQ), _____ represent the reasoning, decision-making, planning, and information-processing activities involved in performing a job.

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B. mental processes

C. special codes

D. information inputs

The Position Analysis Questionnaire (PAQ) is relatively complex, and requires that an employee must have the reading level of a college graduate to be able to complete it and evaluates job skill level and basic characteristics of applicants for a set match of employment opportunity. It measures the characteristics of a job and relates them to human characteristics, such as information input, mental processes, work output, relationships with others, job context, and so on.

Mental processes in the context of the six sections of the Position Analysis Questionnaire (PAQ) represents the reasoning, decision-making, planning, and information-processing activities involved in performing a job.

7 0
3 years ago
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