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Anna007 [38]
3 years ago
12

Blue Company owns 80 percent of the common stock of White Corporation. During the year, Blue reported sales of $1,000,000, and W

hite reported sales of $500,000, including sales to Blue of $80,000. The amount of sales that should be reported in the consolidated income statement for the year is:
A. $500,000.
B. $1,300,000.
C. $1,420,000.
D. $1,500,000.
Business
1 answer:
Serggg [28]3 years ago
4 0

Answer:

C. $1,420,000

Explanation:

Blue Company sales consolidated income statement for the year

Blue Sales of $1,000,000

White sales $500,000

Less sales to blue by white ($80,000)

Amount of sales to be reported $1,420,000

Therefore the amount of sales that should be reported in the consolidated income statement for the year is: $1,420,000

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A company paid $0.85 in cash dividends per share. Its earnings per share is $3.50, and its market price per share is $35.50. Its
natali 33 [55]

Answer: 2.4%

Explanation:

Cash dividend = $0.85

Earnings per share = $3.50

Market price per share = $35.50

The dividend yield will be calculated as:

= Cash dividends / Market price per share

= $0.85 / $35.50

= 0.024

= 2.4%

The dividend yield is 2.4%.

3 0
3 years ago
Business behavior is derived in large part from the basic cultural environment in which the business operates and, as such, is s
solong [7]

Answer:

TRUE

Explanation:

The influence of cultural on business behavior is broadly encompassing. Cultural impacts ranges from understanding employee behavior and employees management methodologies; i.e. how best to manage employees based on their values and priorities. It also impacts the functional areas of marketing and distribution: what people appreciate and the peculiarities of their environment. It also greatly impact and is a strong determinant factor of success when a company is taking a decision on how best to enter a new market.

When business ignore cultural factors they are guilty of ethnocentrism and could be orchestrating business failure.

7 0
3 years ago
On April 1, 2016, the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $57,200, ha
Harman [31]

Answer:

2016 Depreciation

Dr depreciation expense $5720

Cr Accumulated depreciation               $5720

2017 Depreciation

Dr depreciation expense $5720

Cr Accumulated depreciation               $5720

Journal entries for 2018 expenditure

Dr repairs and maintenance   $2900

Dr Equipment account             $11850

Cr Cash account                                          $14750

2018 Depreciation

Dr depreciation expense          $4800.83

Cr Accumulated depreciation                     $4800.83

Explanation:

There are two policies for depreciating non-current asset  especially when it is acquired part-way through the year like we have here, namely full year depreciation in the year of purchase and none in the year of disposal or proportional depreciation throughout the useful life,I am adopting the former in this question.

Formula for depreciation=cost-residual value/useful life

Yearly depreciation is ($57200-$0)/10=$5720

However,after two years the book value is calculated thus:

Book value=$57200-($5720*2)=$45760

additional cost incurred in enhancing the capacity of the asset would be added :  $45760 +$11,850=$57610

Since the useful life has also been reviewed up to 12 years, the depreciation from now on is $57610/12=$4800.83

5 0
3 years ago
Read 2 more answers
Discuss the potential problems for a business which does not keep adequate business records. (8 marks)
polet [3.4K]

it's mostly custumer service most of the time of take care of that mostly ok

4 0
3 years ago
In one of the case studies in the textbook, Ernie Phillips was a CPA who had fallen on hard times both financially and personall
olga_2 [115]

Answer:

The fraud was discovered Option D: The operations manager found a check made payable to Phillips while searching Phillips' desk for some accounting records.

Explanation:

In the given case study, Ernie Phillips had got a job as a 'controller'. He had started writing checks to himself other than the payroll checks.

This fraud can be discovered when the operations manager found a check on Phillips desk which was payable to himself and it was other than the payroll check. Thus, Option D is the statement as an answer.

Cancelled checks do not have to do anything with the fraud, as per Option A, because cancelled checks are never cleared in the bank. The receiver doesn't usually receive a call before check clearance. So, Option B is also incorrect. No error was there in the check as stated in Option C.

8 0
3 years ago
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