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Masja [62]
2 years 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]2 years 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

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Answer:

The correct option is yes,the $15,000 will double each 7.5 years.In 15 years ,it will double twice.

Explanation:

The 72 rule stipulates that the number of years it would take an investment to achieve accumulate a certain amount- future value, can be computed by dividing 72 by the interest rate earns by the investment

N, the number of years=72/9.6

                                      =7.5 years

Invariably,in 7.5 years' when Sally would have been 10.5 years(3 years now+7.5 years) the investment would have doubled.

By another 7.5 years when Sally would have been 18 years(10.5 years +7.5 years), the investment would have doubled twice.

The 72 rule is fast-track approach to calculating the duration of an investment.

7 0
2 years ago
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Ramona enjoys her job because she is able to help kids in an after school program. The work value Ramona feels strongest about i
ss7ja [257]

Answer:

The answer is D. work with people

Explanation:

I had already answered this but for some reason it got deleted so here ya go. It says she likes her job bc she gets to help kids and kids are people so she likes working with people. And It's the correct answer on Edg. 2020

3 0
2 years ago
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Karen Wilson and Katie Smith are looking at the company's health care options and trying to determine how much their net pay wil
Rufina [12.5K]

Answer:

Without cafeteria plan Karen taxable income is 2250 dollars and with cafeteria plan the taxable income is $2135.

Without cafeteria plan Katie taxable income is 2075 dollars and with cafeteria plan the taxable income is $1960.

Explanation:

A married women Karen earns = $2250

Katie single women earn = $2075

Employee contribution to health care = $115

If the Karen decline to participate in the cafeteria then her taxable income is $2250 (wages).

If the Karen accept to participate in the cafeteria then her taxable income is $2250 - $115 (contribution) = $2135

If Katie declined to participate in the cafeteria then her taxable income is $2075 (wages).

If Katie accept to participate in the cafeteria then her taxable income is $2075 - $115 (contribution) = $1960

7 0
2 years ago
On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $20.8 million cash to expand operations. The l
sineoko [7]

Answer:

Record the necessary entries in the Journal Entry Worksheet below for FirstBanc Corp.

August 01, 2021:

Cash-                     20.800.000

Notes Payable-                          20.800.000

December 31, 2021:

Interest Expense-        520.000

Interest Payable-                           520.000

January 31, 2022:

Notes Payable-     20.800.000

Interest Payable-    520.000

Interest Expense-    104.000

Cash-                                           21.424.000

Explanation:

August 01, 2021:

Cash-                     20.800.000

Notes Payable-                          20.800.000

December 31, 2021:

Interest Expense-        520.000

Interest Payable-                           520.000

January 31, 2022:

Notes Payable-     20.800.000

Interest Payable-    520.000

Interest Expense-    104.000

Cash-                                           21.424.000

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<u>Answer:</u>

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<em></em>

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Many independent filmmakers are amazed at the measure of exertion and ability required to verify a fair conveyance understanding. With the emotional increment in an autonomous generation, it is evident that numerous movie producers have aced the skills expected to confirm the cash and hardware and deliver the film.

Subsequently, if the Filmmaker has skillfully made content into an engaging film, the movie producer might have the option to get a superior arrangement.

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