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aalyn [17]
2 years ago
12

On January 1, 20X9, Pitcher Corporation purchased 100 percent of Softball's stock. All tangible assets had a remaining economic

life of 10 years at January 1, 20X9. Both companies use the FIFO inventory method. Softball reported net income of $17,000 in 20X9 and paid dividends of $4,700. Pitcher uses the equity method in accounting for its investment in Softball.
Business
1 answer:
mina [271]2 years ago
5 0

Answer:

The question is not complete,find attached complete question in word document.

Find all the journal entries in the attached spreadsheet

Explanation:

Please note the following points:

The goodwill is the excess of purchase consideration of $ 476,500.00  over the net assets of Softball acquired,that is $ 318,000.00  

The net assets is total assets acquired of $374,000 minus the liabilities taken over of $56000

Equity method income is the difference between Softball's net income reported and the dividends paid

Download docx
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> docx </span>
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> xlsx </span>
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C

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Wooten &amp; McMahon Enterprises produces a product with the following per-unit costs: Direct materials $13.00 Direct labor 8.80
vichka [17]

Answer:

COGS= $31,597.5

Explanation:

Giving the following information:

Direct materials $13.00

Direct labor 8.80

Manufacturing overhead 16.50

Last year, Wooten & McMahon Enterprises produced and sold 825 units

First, we need to calculate the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

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Now, we can calculate the cost of goods sold:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

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8 0
2 years ago
Employees who have difficulty performing efficiently on the job often have poor _____ skills, are confused about their prioritie
sergeinik [125]

Answer: The correct answer is "Organizational".

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7 0
2 years ago
Bill is a yacht broker in the southeastern United States. For years he has had difficulty selling large yachts locally because t
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Answer:

.D.complementary products

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A complementary good is a product whose usage is dependent on the availability of another. Complementary goods are, therefore, goods that are used together.  For example, A and B will be complimentary goods if the use of A will require the use of B.

Yachts and docks are complementary products because a yacht will require a dock as the base of its operation.  Without a dock, yacht operations will be almost impossible. Bill is not making good sales on big yachts because potential customers cannot find sufficient docking space. Other examples of complementary goods are car and petrol,  printers and ink cartridges, guns and bullets, and DVD players and DVD disks.

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2 years ago
Your local movie theater earns a total revenue of $40,000 per month when the price of a movie ticket is $8, and it earns a total
raketka [301]

Answer:

Inelastic

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percentage change in quantity demanded =

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Demand is inelastic because the elasticity of demand is a less than 1.

Elasticity of demand measures how quantity demanded changes when price change.

Demand is inelastic when a change in price has no effect on quantity demanded. Inelastic demand has a value of less than 1 .

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7 0
2 years ago
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