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Business, 16.04.2020 21:52 ahmadfarriz5948

Questions no.9 through 14 are based on the below fact: Akron, Inc., owns all outstanding stock of Toledo Corporation. Amortization expense of $15,000 per year for patented technology resulted from the original acquisition. For 2018, the companies had the following account balances: Akron Toledo Sales $1,100,000 $600,000 Cost of goods sold 500,000 400,000 Operating expenses 400,000 220,000 Investment income Not given 0 Dividends declared 80,000 30,000 Intra-entity sales of $320,000 occurred during 2017 and again in 2018. This merchandise cost $240,000 each year. Of the total transfers, $70,000 was still held on December 31, 2017, with $50,000 unsold on December 31, 2018. What is entry G*? Net Income (seller) 17,500 Costs of goods sold 17,500 Cost of Goods sold (seller) 17,500 Inventory 17.500 More than one answer is correct.

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