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
Masja [62]
1 year ago
10

Malone Co. owned 70% of Bernard Corp.'s common stock. During November 2021, Bernard sold merchandise to Malone for $150,000. At

December 31, 2021, 40% of this merchandise remained in Malone's inventory. For 2021, gross profit percentages were 25% of sales for Malone and 30% of sales for Bernard. The amount of intra-entity gross profit remaining in ending inventory at December 31, 2021 that should be eliminated in the consolidation process is: Multiple Choice $18,000. $45,000. $36,000. $11,250. $14,400.
Business
1 answer:
elena-14-01-66 [18.8K]1 year ago
6 0

Answer:

$18,000

Explanation:

Calculation to determine what The amount of intra-entity gross profit remaining in ending inventory at December 31, 2021 that should be eliminated in the consolidation process is:.

Using this formula

Intra-Entity Gross Profit =(Transfer Price × Percentage of Bernard's GP) × Intra-Entity Transfers Remaining in Ending Inventory

Let plug in the formula

Intra-Entity Gross Profit=($150,000×30% )×40%

Intra-Entity Gross Profit=$45,000×40%

Intra-Entity Gross Profit=$18,000

Therefore The amount of intra-entity gross profit remaining in ending inventory at December 31, 2021 that should be eliminated in the consolidation process is:$18,000

You might be interested in
Which best describes the role of financial planning?
STatiana [176]
You invest and save
6 0
1 year ago
Which loan created a habit where the borrower kept coming back to request an extension?
Anna35 [415]

Answer:

Extension proposals are not rare because of the buyer's perspective of bridging finance as well as the explanations for both the requirements can indeed be broad. The much more common explanations are.  

Explanation:

  • It has required longer than planned to secure planning approvals.
  • When a transaction has been negotiated, the borrower awaits an exchange of contracts.
  • Additional resources as well as time are needed by the creditor to accomplish his project.
  • Refurbishment analysis was suddenly postponed.
  • Before actually refinancing the debt, the creditor waits for something like a new lender to conclude his thorough research.
  • Throughout the final moment, the buyer of the creditor's property backs out, causing the borrower to bring the estate back into the marketplace.
  • Throughout the last minute, the previous buyer refinancing the property backs out, obliging the creditor to find some mortgage company.
4 0
1 year ago
The PEN Corporation with a book value of $20 million and a market value of $30 million has acquired the CNC C transaction is a p
larisa86 [58]
I think the answer is B ‍♀️.
8 0
1 year ago
The purchasing department buys office supplies on a routine basis from a pre-approved list of suppliers. This type of purchase i
jok3333 [9.3K]

Answer:

A) straight rebuy

Explanation:

Based on the information provided within the question it can be said that this type of purchase is classified as a straight rebuy. Like mentioned in the question this is a type of purchasing or reordering of supplies , and is done from an approved list held by the company in order to try and maintain the product's quality (since they already know the approved company sells good quality) as well as save time on having to research other suppliers.

5 0
1 year ago
In the context of enterprise resource planning (ERP) systems, the most efficient and effective ways to complete a business proce
Ivenika [448]

Answer: best practices

Explanation: In context of Enterprise resource planning, the most efficient ways to conduct business activities are termed as best practices.

Best practices are those alternatives of doing an activity which are superior to other alternatives as they results in better conclusions than other options. These are generally seen as a techniques or a standard method of performing an activity.

3 0
1 year ago
Read 2 more answers
Other questions:
  • A credit card issuer charges an APR of 19.56%, and its billing cycle is 30 days long. What is its periodic interest rate?
    6·2 answers
  • Urban’s, which is currently operating at full capacity, has sales of $47,000, current assets of $5,100, current liabilities of $
    5·1 answer
  • Economists often are interested in percentage change from one period to the next. The percentage rate of change of gross domesti
    9·1 answer
  • After being influenced by frequent advertisements, Jeremy buys a new cell phone. However, he discovers that the new cell phone d
    10·1 answer
  • Market value ratios give management an indication of what investors think of the companies and future prospects. The market valu
    11·1 answer
  • Little Kona is a small coffee company that is considering entering a market dominated by Big Brew. Each company's profit depends
    12·1 answer
  • Identify a difference between the crisis stage and the dissolution stage of organizational decline. Select one: a. In the crisis
    7·2 answers
  • Greater air pollution from car production leads to increased rates of asthma and infant mortality, imposing costs on the rest of
    9·1 answer
  • "Do we have a loyalty program?" is a question about which of the 5Cs? a. collaborators b. context c. customer d. company
    11·1 answer
  • _____ tend to outperform during an economic slowdown. a. Consumer durable goods b. Consumer staples c. Cyclical companies
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!