Bradshaw Company owns (100 %) of Dee Company. At year-end, Dee owes Bradshaw ($ 150,000) arising from

Question:

Bradshaw Company owns $100 \%$ of Dee Company. At year-end, Dee owes Bradshaw $\$ 150,000$ arising from a loan made during the year. If a consolidated balance sheet is prepared at year-end, how is the $\$ 150,000$ handled? Explain.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Financial And Managerial Accounting For MBAs

ISBN: 9781618533593

6th Edition

Authors: Peter D. Easton

See More Books

Question Posted: Mar 03, 2024 06:02 AM

See More Questions

Suppose you wish to borrow $700 for five weeks and the amount of interest you must pay is $20 per $100 borrowed. What is the APR at which you are borrowing money?
Bradshaw Company owns 100% of Dee Company. At year-end, Dee owes Bradshaw $75,000. If a consolidated balance sheet is prepared at year-end, how is the $75,000 handled? Explain.
Explain the meaning of the terms emoluments, employments and office for the purposes of PAYE as you earn systems. 2. Explain the actual receipts basis of assessing the emoluments from the employment...
What responsibilities can a Crew Boss delegate to a subordinate supervisor? (Select all that apply) Re-supplying crew and equipment Communicating crew wake up time for next operational period...
Discuss the importance of a website's appearance.
Smyth Inc. has decided to do a scenario analysis for the year 2018. Their pessimistic prediction for sales is $360,000, the most likley amount of sale is $450,000, and the optimistic sales prediction...
This case stems from a rocky relationship between two Texans. Lawrence Shipley was the president of Shipley Do-Nut Flour & Supply Co., and Andrea Vasquez was a substitute school teacher in the...
Carol Cagle has a repetitive manufacturing plant producing trailer hitches in Arlington, Texas. The plant has an average inventory turnover of only 12 times per year. She has therefore deter-mined...
A system consisting of a small 1.20-kg object attached to a Ax(cm) light spring oscillates on a smooth, horizontal surface. A 5.00- graph of the position x of the object as a function of time is 4.00...
Use the following year-end footnote disclosure from Intel's 10-K report to answer parts $a$ and $b$. a. What amount does Intel report on its balance sheet as available-for-sale equity securities?...
Finn Company purchases all of the common stock of Murray Company for $\$ 375,000$ when Murray Company has $\$ 150,000$ of common stock and $\$ 225,000$ of retained earnings. If a consolidated...
Use the formula for the binomial probability distribution to calculate the values of p(x) and construct the probability histogram for x when n = 6 and p = .2.
If the government wants to expand aggregate demand, it can ________ government purchases or ________ taxes. a. increase; increase b. increase; decrease c. decrease; increase d. decrease, decrease
If the business community becomes more optimistic about the profitability of capital, the ________ curve for loanable funds would shift, driving the equilibrium interest rate ________. a. supply; up...
Greta obtained an auto loan from Ridgeline Bank, but the bank did not give her a payment schedule and refused her attempts to make payments. In fact, Ridgeline told Greta that it had not given her a...
If the interest rate is zero, then $100 to be paid in 10 years has a present value that is a. less than $100. b. exactly $100. c. more than $100. d. indeterminate.
The main reason the cost of living varies across regions of the country is differences in the price of a. food. b. clothing. c. housing. d. medical care.
In Figure a "semi-infinite" non-conducting rod (that is, infinite in one direction only) has uniform linear charge density , Show that the electric field Ep at point P makes an angle of 45o with the...
The population of Detroit, Michigan, decreased from 1,027,974 in 1990 to 688,701 in 2013 (Source: U.S. Census Bureau). Find the average rate of change in the population of Detroit, Michigan, over the...
Express the items from QS 17-5 in common-size percents. Data From QS 17-5 Compute the annual dollar changes and percent changes for each of the following items. Current Yr Prior Yr Cash $ 7,440 $...
Each team is to select a different industry, and each team member is to select a different company in that industry and acquire its financial statements. Use those statements to analyze the company,...
Selected comparative financial statements of Korbin Company follow. Required 1. Compute each years current ratio. Round ratios to one decimal. 2. Express the income statement data in common-size...
Water flows over a 12.5 m drop with an initial velocity of 10 m/s. At the bottom of the drop the water is used to turn the blades of a water turbine. How much kinetic energy per unit mass (KE/m),...
A 130 g ball is dropped from a height of 12 m. Determine the following: a. The velocity of the ball when it hits the ground. b. The velocity of the ball at a height 1 m above the ground.
A 5 kg block is given an initial velocity of 10 m/s. If there is a friction force of 13 N opposing the motion of the block, how far will the block move before coming to a rest?

Bradshaw Company owns (100 %) of Dee Company. At year-end, Dee owes Bradshaw ($ 150,000) arising from

Question:

Step by Step Answer:

Answer When preparing a consolidated balance sheet for Bradshaw Company and its whollyowned subsidia...View the full answer

Financial And Managerial Accounting For MBAs

Students also viewed these Business questions