answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kirill115 [55]
1 year ago
10

Blue Company purchased 60 percent ownership of Kelly Corporation in 20X1. On May 10, 20X2, Kelly purchased inventory from Blue f

or $60,000. Kelly sold all of the inventory to an unaffiliated company for $86,000 on November 10, 20X2. Blue produced the inventory sold to Kelly for $47,000. The companies had no other transactions during 20X2.
1. What amount of sales will be reported in the 20X2 consolidated income statement?
a. $51,600
b. $60,000
c. $86,000
d. $146,000
2. What amount of cost of goods sold will be reported in the 20X2 consolidated income statement?
a. $36,000
b. $47,000
c. $60,000
d. $107,000
3. What amount will be reported as consolidated net income for 20X2?
a. $13,000
b. $26,000
c. $28,600
d. $39,000
Business
1 answer:
aleksandr82 [10.1K]1 year ago
3 0

Answer:

Blue Company

Consolidation of Parent & Subsidiary Companies :

1. c. $86,000

2. b. $47,000

3. d. $39,000

Explanation:

In preparing a consolidated income statement, Blue Company with controlling interest of 60% will eliminate intercompany transactions, sales, purchases, inventory, and profits.  This is because such transactions are assumed to be within the same consolidated entity.

Only such transactions involving outsiders are taken into consideration for the purpose of determining profits and arriving at the financial position of the consolidated group.

You might be interested in
A freelance writer must choose how to spend her time working on several different types of projects. Newspaper stories take 3 ho
natali 33 [55]

45N + 400M + 20P ≥ 45 is the constraint that limits the amount of time the writer will work each week.

Explanation:

Integer constraints limit any or all variables to only allow integer values in the optimisation issue. It allows for precise simulation of situations that include discrete numbers (such as equity shares) or decisions yes or no.

Both "limits" and "restrictions" are "restrictions," which may be the broadest word to denote anything that prohibits a entity or a mechanism from happening. "Standards" and "controls" typically feel like standing back, where "stretches" sound like being alone.

7 0
2 years ago
Cherries on Top, a national ice cream shop, is struggling financially to keep up with the bigger chains. The top executives have
Serggg [28]

Answer:

The correct answer is B

Explanation:

Utilitarian approach or method is the approach which assesses or analyze the actions in terms of the outcomes or results, that is the net costs and the benefits to all the stakeholders on individual level.

This approach aspire or attempt to accomplish the greatest good for the  numbers when creating the least amount for preventing the suffering of the greatest amount.

So, the shop uses or practice the approach of utilitarian as it will provide them the extra one million dollar to put it in the marketing.

7 0
1 year ago
Simone is aware that there are a variety of security tools available for her new computer, but she is not entirely sure which ki
dsp73

<em>What kind of server is another computer that screens all your incoming and ..... Simone is aware that there are a variety of security tools available for her new ... but she is not entirely sure which kinds of products she needs for which situations. ... Simone is plagued by junk email that offers her products she does not want, ...</em>

<em></em>

<h3>hope i can help</h3>
5 0
1 year ago
In 2009, Democratic President Barack Obama called on Congress to pass comprehensive health care reform. The goal of the legislat
stellarik [79]

Answer:

a. The party control of government when Congress passed legislation in 2014 to repeal the ACA was when Republicans gained majority seats in both chambers of Congress.  This Republican control of Congress was the catalyst for the repeal of the ACA in 2014.

b. The Republican representative who cast a vote in favor of the ACA bill in 2009 followed strictly his constituency mandate.

c. When President Obama vetoed the ACA repeal, the Republicans could proceed to court to try to use the judicial branch of government to implement their legislative goals by requesting for constitutional interpretation of the repealed bill.

If this had happened, it would have seriously hampered the implementation and success of the Affordable Care Act for partisan reasons.

Explanation:

a) Congress is the legislative arm of government that makes the law.  The executive implements the law.  The judiciary is in charge of the interpretation and application the law to real situations.  But when the President vetoes a bill, Congress can override the veto by ensuring that 2/3 of both chambers pass the law.  Alternatively, Congress can ask for a judicial interpretation.

7 0
1 year ago
Total quality management (tqm) emphasizes all but which one of the following?a. Team-based work design and the creation of a tot
Sindrei [870]

Answer:

c. Involvement and empowerment of employees at all levels

Explanation:

Total quality management refers to managing the organization in order to develop a success in the long run by considering the low level workers to the high level executive, and at the same time focused on quality improvement and the customer satisfaction

Here are the following points to become important for an organization

1. Quality improvement, management leads to long term success for organization and customers

2. The deficiencies could be determined by performing the work and can be corrected through providing the training, education, etc

3. If the product contains high quality that meet the needs of the customers than it would lead to high customer satifaction

4. And, in case if there is few defective product so the company is in a position to save the cost

5 0
2 years ago
Other questions:
  • Robert was a tradesman travelling through New York in 1795. Which hotel would he have stayed in?
    15·1 answer
  • The demand function for a certain make of ink-jet cartridge is the following where p is the unit price in dollars and x is the q
    9·1 answer
  • Nakama Corporation is considering investing in a project that would have a 4 year expected useful life. The company would need t
    8·1 answer
  • Annette's team has been able to meet the production target of 20,000 units per year. In the next financial year, Annette sets a
    12·1 answer
  • Last year Rennie Industries had sales of $270,000, assets of $175,000 (which equals total invested capital), a profit margin of
    15·1 answer
  • Pixi Boutique will have cash receipts of​ $57,000 in December and cash disbursements of​ $51,000 for this month. If its beginnin
    6·1 answer
  • In the London market, Rolls-Royce stock closed at £0.875 per share. On the same day, the British Pound sterling to the U.S. doll
    6·1 answer
  • The number of taxicabs in Motorville and the taxicab fares are regulated. The fare currently charged is Rs.500 a ride. Motorvill
    14·1 answer
  • QUESTION 2 of 10: Three smoothie shops exist in your town with annual sales of $300,000; $344,000; and $412,000. What is the ave
    5·1 answer
  • Chrzan, Inc., manufactures and sells two products: Product E0 and Product N0. Data concerning the expected production of each pr
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!