1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ede4ka [16]
3 years ago
14

James Corporation owns 80 percent of Carl Corporation's common stock. During October, Carl sold merchandise to James for $307,00

0. At December 31, 50 percent of this merchandise remains in James's inventory. Gross profit percentages were 35 percent for James and 45 percent for Carl. The amount of intra-entity gross profit in inventory at December 31 that should be eliminated in the consolidation process is
Business
1 answer:
Arturiano [62]3 years ago
7 0

Answer:

$69,075

Explanation:

James Corporation

Merchandise remaining in James’s inventory:

$307,000 × 50% = $153,500

Intra-entity gross profit:

$153,500 × 45% = $69,075.

James’s ownership percentage of Carl will have no impact on this computation.

Therefore the amount of intra-entity gross profit in inventory at December 31 that should be eliminated in the consolidation process is $69,075

You might be interested in
Businesses that apply the marketing concept will fail if each company involved in
Dmitry [639]

Answer:

Explanation:

Which of the following was a demand of the marchers

jobs for women

segregated schools

an end to bias

second-class citizenshipWhich of the following was a demand of the marchers?

6 0
3 years ago
When four infineon technologies executives participated in an international conspiracy to fix prices for computer memory chips,
marshall27 [118]

When four infineon technologies executives participated in an international conspiracy to fix prices for computer memory chips, they were acting with other firms as a cartel.

Given an incomplete sentence related to infineon technologies.

We are required to fill the sentence by an appropriate term.

We can fill the sentence with "a cartel".

A cartel is basically a formal agreement among firms in an oligopolistic industry. Members of cartel may agree on such matters as prices, total industry output, market shares, allocation of customers, allocation of territories, bid-rigging, establishment of common sales agencies, and the division of profits or combination of these. It is basically a group of people who are collected to complete an objective.

Hence when four infineon technologies executives participated in an international conspiracy to fix prices for computer memory chips, they were acting with other firms as a cartel.

Learn more about cartel at brainly.com/question/12015868

#SPJ4

7 0
1 year ago
A corporation issued 6,200 shares of $10 par value common stock in exchange for some land with a market value of $94,000. The en
andreev551 [17]

Answer:

Debit Land $94,000; credit Common Stock $62,000; credit Paid-In Capital in Excess of Par Value, Common Stock $32,000

Explanation:

Preparation of what The entry to record this exchange is:

Debit Land $94,000

Credit Common Stock $62,000

(6,200*$10)

Credit Paid-In Capital in Excess of Par Value, Common Stock $32,000

($94,000-$62,000)

(To record exchange)

6 0
3 years ago
A _____ occurs when a company's management decides to add products to an existing product line in order to compete more broadly
Harman [31]

C. Product line extension.

7 0
3 years ago
Gouda Company and Cheddar Company had the same sales, total costs, and income from operations for the current fiscal year; yet G
Sedaia [141]

Answer:

If both companies have the sames sales volume, total costs and income from operations, the reason why Gouda has a lower break even point is that their variable costs are lower. We use the contribution margin per unit to calculate the break even point and the contribution margin per unit = sales price - variable costs. The question states that total costs are equal, but it doesn't say anything about variable or fixed costs.

Assuming that Gouda is above break even point, each sale will generate a higher operating profit since the contribution margin is higher.

Explanation:

3 0
3 years ago
Other questions:
  • You are a monopolist who sells textbooks to undergraduate students. Currently you sell 100 books at a price of​ $100 each, for r
    11·1 answer
  • A surge in new home sales and a drop in weekly unemployment claims suggest that the economy might not be as weak as some analyst
    11·1 answer
  • IF YOU HELP ILL DO ANYTHING!! 20 POINTS AND BRAINLIEST!!
    7·2 answers
  • What does it mean to own an individual stock ?
    13·1 answer
  • If you're a manufacturer, and you want to showcase your product in a store that has a narrow but deep selection of merchandise a
    10·1 answer
  • Many experts say that the most distinctive skill a professional marketer might have is the ability to build and manage a​ ______
    15·1 answer
  • The ____ principle morally requires employees to support the rules of the organization as long as the organization is just (or f
    13·1 answer
  • what is the name for the tube shaped part of a firearm that the bullet or shot travels through after the cartridge is fired?
    10·1 answer
  • Explain the importance of decision making in management
    12·1 answer
  • Cathy's Towels sells three items (which it purchases from a supplier): bath towels, hand towels, and washcloths in a 4:3:2 mix (
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!