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Snezhnost [94]
3 years ago
10

Jazz Corporation receives management consulting services from its 90 percent owned subsidiary, Laker Inc. During 20X7, Jazz paid

Laker $70,000 for its services. Laker's labor cost and other associated costs for the employees providing services to Jazz totaled $30,000 in 20X7. Jazz reported $330,000 of income from its own separate operations for 20X7, and Laker reported net income of $85,000. Based on the preceding information, what amount of income should be reported as consolidated income on the 20X7 Consolidated Financial Statements
Business
1 answer:
galben [10]3 years ago
4 0

Answer:

the amount of income that should be reported is $415,000

Explanation:

The computation of the amount of income that should be reported is shown below:

= Jazz separate operations income + laker net income

= $330,000 + $85,000

= $415,000

hence, the amount of income that should be reported is $415,000

Simply used the above formula to determine the consolidated income

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kodGreya [7K]

Answer:

Dr Cash       $1,100

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Cr Interest revenue         $100

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The debit would be to cash account as an increase in cash and cash equivalents in the balance sheet of Android Products Inc,under the current assets section.

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Holly would like to run an annual major disaster recovery test that is as thorough and realistic as possible. she also wants to
nignag [31]
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Your medical group wants to expand by starting a new venture, owning and operating a pharmacy. In order to increase the chances
kolezko [41]

Explanation:

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Some potential <u>risks </u>in opening a pharmacy would be:

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Market risk: A company only progresses if it has market to operate. A new business should consider whether it will be able to deliver a quality product with customer benefits compared to its competitors.

Supplier Risk: Choosing good suppliers is essential to organizational success. In the pharmaceutical industry it is necessary to choose good and reliable laboratories so that there is no risk of obtaining unsafe medicines for human health.

But in addition to risks, <u>opportunities </u>must also be considered when opening a new business. In this case they can be:

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