Answer:
The amount that should be eliminated from cost of goods sold in the combined income statement for 20X8 is $31,250.
Explanation:
Amount eliminated from cost of goods sold in the combined income statement for year 2008.
saturn purchase merchandise from Venus at 125 % of sol cost.
sol sold inventory to saturn for $ 25,000
Amount should be eliminated from combined income statement
= $25,000*125/100
= $31,250
Therefore, The amount that should be eliminated from cost of goods sold in the combined income statement for 20X8 is $31,250.
The answer is in the accounts receivable subsidiary ledger. The
balance in each customer account is at times settled
with the accounts receivable balance in the general ledger,
to safeguard correctness. The subsidiary ledger is also usually denoted
to as the sub ledger or subaccount.
<span> </span>
<span>Which of the following terms is also known as the bottom line? Net </span>profit is known as the bottom line in many instances. Net profit is the the final sales dollars remaining after all expenses, interest, taxes, and dividends are subtracted from a company's total revenue.
