Nike, Inc. sells merchandise to its wholly-owned subsidiary, Converse, at a 30 percent markup on cost and
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Prepare the working paper eliminations related to these intercompany transactions at December 31, 2013.
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Nike Converse Inventories at January 1, 2013, acquired from affiliate........75,000 $117,000 Sales made to affiliate during 2013.... . Inventories at December 31, 2013, acquired from affilliate ...^.--.._.. 80,000 550,000 110,500 600,000
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In thousands Consolidation Working Paper Retained earnings Converse 11 15000 Inve...View the full answer
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Related Book For
Advanced Accounting
ISBN: 978-1934319307
2nd edition
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III
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