What is the amount of the unrealised profit to be eliminated if the parents year-end inventory includes
Question:
What is the amount of the unrealised profit to be eliminated if the parent’s year-end inventory includes at £540,000 goods invoiced to it by its 60% owned subsidiary at cost plus 25%?
Transcribed Image Text:
a £64,800 b £81,000 c £108,000 C d £135,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
Question Posted:
Students also viewed these Business questions
-
Explain Management of Effluent Treatment Treatment.
-
The following questions are used in the Kaplan CPA Review Course to study leases while preparing for the CPA examination. Determine the response that best completes the statements or questions. 1. A...
-
The following is the final trial balance (after the adjusting and closing entries had been made) for Hartman Company as at August 31, 2011. Hartman adjusts and closes its books at the end of each...
-
Here is a description of an analytical procedure for superconductors containing unknown quantities of Cu(I), Cu(II), Cu(III), and peroxide (O 2 2- ): 32 "The possible trivalent copper and/or...
-
What functions does a cost-of-quality (COQ) report play in a quality-improvement program?
-
You work for a conservative investment management firm. You recently asked one of the senior partners for permission to open up a futures account so that you could trade interest-rate futures as well...
-
Liz, a graduate MBA student at a prestigious business school, received three job offers late in April just before her May graduation. On April 30 she accepted the job at ABC Corp., which she...
-
Selected data for Finanka, a Finnish cellular phone manufacturer, appear below (amounts in millions of euros): a. Compute the amount of cash flow from operations for each of the four years using the...
-
(a) An investor purchased 300 units of a Mutual Fund at Rs. 12.25 per unit on 31 December, 2009. As on 31st December, 2010 he has received Rs. 1.25 as dividend and Rs. 1.00 as capital gains...
-
Subsidiarys inventory at the year-end included 180,000 purchased from its parent. Further goods invoiced by the parent at 45,000 were in transit. The parent invoices the subsidiary at cost plus 20%....
-
A parent owns two-thirds of the subsidiarys equity. As at a year-end the subsidiarys inventory includes goods sent to it by the parent invoiced at 360,000. Parent has purchased these goods for...
-
A manufacturer is planning to sell a new product at the price of $150 per unit and estimates that if x thousand dollars is spent on development and y thousand dollars is spent on promotion,...
-
b. Write a VHDL program for an 8:3 encoder having active low data inputs and active high data outputs using conditional signal assignment statement. When none of the data inputs is activated the...
-
Minicase (David Bruce). (a) Do you think David Bruces approach to growth and change was appropriate for the business he first began? Do you see it as opportunistic or incremental or planned? (b) Why...
-
Table 3.6 The Weekly Time Series Relations Between Size-institutional Ownership Portfolio Returns, Market Returns and Changes in Closed End Fund Discounts Over 1/2/81 to 12/28/90 Size Inst. Intercept...
-
solve the following questions Prior Year Current Year 3,132.00 5,953.00 Accounts payable 6,853.00 8,915.00 Accounts receivable 5,708.00 6,156.00 Accruals Additional paid in capital 19,633.00...
-
Rodriguez Company pays $315,900 for real estate with land, land improvements, and a building. Land is appraised at $200,000; land improvements are appraised at $50,000; and the building is appraised...
-
Use the Target Corporations annual report in Appendix B to answer the following questions: Required a. What was the average interest rate on Targets long-term debt in the fiscal-year ended February...
-
Suppose that the electrical potential at the point (x, y, z) is E(x, y, z) = x + y - 2z. What is the direction of the acceleration at the point (1,3,2)?
-
For each firm listed in the following, identify whether it would use job costing or process costing. 1. Canned soup producer 2. Custom automobile restorer 3. Facial tissue manufacturer 4. Accounting...
-
The Supreme Court in 1895 ruled that the income tax was unconstitutional because the tax needed to be apportioned among the states in proportion to their populations. Why would the requirement of...
-
Why was pay-as-you-go withholding needed in 1943?
-
Required information LO 4-1: Understand the basic approach in activity-based costing and how it differs from conventional costing. Skip to question In this Learning Objective, we will learn about the...
-
When starting a business there are various business structures that can be used. Identify the key legal features of a corporation and describe the advantages and disadvantages of a corporation for...
-
The entry to record a sales return that results in the issuing of a gift card is recorded with a debit to Sales Revenue and a credit to and also a debit to and a credit to Cost of Goods Sold
Study smarter with the SolutionInn App