Business, 10.03.2022 21:50 kassidyopry15

Power Products Corporation, which sells a broad lines of home detergent products, owns 75 ercent of the stock of Scrub Soap Company. During 20X8, Scrub sold soap products to Power Products for $180,000, which it had porduced for $120,000. Power Products sold $150,000 of its purchase from Scrub in 20X8 and the remainder in 20X9. In addition, Power Products purchased $240,000 of inventory from Scrub in 20X9 and resold $90,000 of the items before year-end. Scrub's cost to produce the tiems sold to Power Products in 20X9 for $160,000. Required:
a. Give all worksheet eliminating entries needed for December 31, 20X9, to remove the effects of the intercompany inventory transfers in 20X8 and 20X9.
b. Compute the amount of income assigned to noncontrolling shareholders in the 20X8 and 20X9 consolidated income statements if Level Brothers reported net income of $350,000 for 20X8 and $420,000 for 20X9.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 14:20

Your uncle borrows $53,000 from the bank at 11 percent interest over the nine-year life of the loan. use appendix d for an approximate answer but calculate your final answer using the formula and financial calculator methods. what equal annual payments must be made to discharge the loan, plus pay the bank its required rate of interest

Answers: 1

Answer

Business, 22.06.2019 15:20

Sauer food company has decided to buy a new computer system with an expected life of three years. the cost is $440,000. the company can borrow $440,000 for three years at 14 percent annual interest or for one year at 12 percent annual interest. assume interest is paid in full at the end of each year. a. how much would sauer food company save in interest over the three-year life of the computer system if the one-year loan is utilized and the loan is rolled over (reborrowed) each year at the same 12 percent rate? compare this to the 14 percent three-year loan.

Answers: 3

Answer

Business, 22.06.2019 23:10

Jake and janelle loved to prepare gourmet meals for friends and family. they started a business of preparing theme-type dinners for friends who were having parties. to generate even more interest in the business, janelle created on her website. she posted pictures of events, and close-ups of the food they served. she encouraged patrons and others to post reviews, comments, and favorite recipes, and to share their own party ideas. her promotion became a dialogue between buyers of her service and the business. interactive promotion infomercials product placement broadcast

Answers: 2

Answer

Business, 23.06.2019 09:40

What is an example of a functional organizational structure?

Answers: 1

Answer

You know the right answer?

Power Products Corporation, which sells a broad lines of home detergent products, owns 75 ercent of...

Questions