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Alexandra [31]
2 years ago
15

Pilfer Company acquired 90 percent ownership of Scrooge Corporation in 20X7, at underlying book value. On that date, the fair va

lue of noncontrolling interest was equal to 10 percent of the book value of Scrooge Corporation. Pilfer purchased inventory from Scrooge for $90,000 on August 20, 20X8, and resold 70 percent of the inventory to unaffiliated companies on December 1, 20X8, for $100,000. Scrooge produced the inventory sold to Pilfer for $67,000. The companies had no other transactions during 20X8.
Based on the information given above, what amount of sales will be reported in the 20X8 consolidated income statement?
A) $90,000
B) $120,000
C) $100,000
D) $67,000
Business
1 answer:
Maru [420]2 years ago
8 0

Answer:

C) $100,000

Explanation:

Based on the information given we were told

that the inventory Purchased by Pilfer from

Scrooge was RESOLD to companies that they are unaffiliated to on December 1, 20X8 for the amount of $100,000 which means that the amount of sales that will be reported in the 20X8 CONSOLIDATED INCOME STATEMENT

will be inventory amount of $100,000 that was resold to the unaffiliated companies.

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Answer:

the correct answer is:

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8 0
3 years ago
5) A car rental company offers two plans for one way rentals. Plan I charges $36 per day and 17 cents per mile. Plan II charges
Rom4ik [11]

Answer:

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Plan II : $24 + 25 cents * miles

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6 0
3 years ago
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3 0
3 years ago
During the last decade, there was an increase in sales in cds, dvds, pen drives, and portable hard discs, as people sought to re
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A realtor is trying to predict the selling price of houses in Greenville (in thousands of dollars) as a function of size (measur
astraxan [27]

Answer:

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