Answer:
Payne should exclude Salem's January 1, Year 1, Retained Earnings and income for January 1 to September 30 from consolidated Retained Earnings and consolidated income
Explanation:
The Retained Earnings of Salem on January 1, Year 1 and and its income during the period between January 1 and September 30 would not be included in the Year 1 consolidated financial statements.
The reason is that The Retained Earnings of Salem on January 1, Year 1 and and its income during the period between January 1 and September 30 are part of the equity of the shareholders that that Payne acquired on September 30, Year 1. They would then be eliminated in the eliminating entry of the consolidating investment.
The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true.
<h3>What is an Inventory Account?</h3>
Inventory accounting is part of accounting that involves modifications in values and accounts or price of inventoried assests.
A company's inventory nvolves goods are grouped into three stages of production which are raw goods, in-progress goods, and finished goods that are ready for sale.
Therefore, The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true because gross profit will be lower, income tax will be lower and the cost of goods will increase.
Learn more on inventory account from the link below.
brainly.com/question/8192827
Answer:
Underemployed.
Explanation:
This is basically explained as not having enough payed job or working part time; it is also explained to not be usually able to maximize your skills or bring the best in you in the nearest future. In some cases it is a situation of insufficient employment pattern towards a skilled man or a worker in any field that is been presented as the case may be.
This can be seen in a part-time job despite having a burning passion for full time work, and also over-qualification.
