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Masja [62]
2 years ago
10

Malone Co. owned 70% of Bernard Corp.'s common stock. During November 2021, Bernard sold merchandise to Malone for $150,000. At

December 31, 2021, 40% of this merchandise remained in Malone's inventory. For 2021, gross profit percentages were 25% of sales for Malone and 30% of sales for Bernard. The amount of intra-entity gross profit remaining in ending inventory at December 31, 2021 that should be eliminated in the consolidation process is: Multiple Choice $18,000. $45,000. $36,000. $11,250. $14,400.
Business
1 answer:
elena-14-01-66 [18.8K]2 years ago
6 0

Answer:

$18,000

Explanation:

Calculation to determine what The amount of intra-entity gross profit remaining in ending inventory at December 31, 2021 that should be eliminated in the consolidation process is:.

Using this formula

Intra-Entity Gross Profit =(Transfer Price × Percentage of Bernard's GP) × Intra-Entity Transfers Remaining in Ending Inventory

Let plug in the formula

Intra-Entity Gross Profit=($150,000×30% )×40%

Intra-Entity Gross Profit=$45,000×40%

Intra-Entity Gross Profit=$18,000

Therefore The amount of intra-entity gross profit remaining in ending inventory at December 31, 2021 that should be eliminated in the consolidation process is:$18,000

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3 years ago
The following information was taken from the records of Easter Corporation for the year ended December 31, 2019. Advertising exp
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Answer:

$162,520

Explanation:

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now,

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5 0
3 years ago
Uber plans to sell shares of common stock to raise capital funds. They estimate that each share of common stock will sell for $1
blsea [12.9K]

Answer:

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Explanation:

given data

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fee charge= 5%

face value = $145 per share

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to find out

Uber cost of capital of common stock

solution

we get here cost of capital of  common stock that is express as

cost of capital of common stock = \frac{D1}{Po-f} + g    ....................1

here D1 is dividend at end year and Po is today price and f is flotation rate and g is growth rate

so we get here

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Answer:

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