1.) Land Services, Inc. owns 30% of voting stock of World Investments, Inc. During the year 2018,...
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Question:
1.) Land Services, Inc. owns 30% of voting stock of World Investments, Inc. During the year 2018, World Investments, Inc. earned profits of $320,000. Under the equity method, which of the following journal entries will Land Services record?
2.)
Shelcal, Inc. provides the following data for the year 2019:
Net Sales Revenue | 397,630 |
Cost of Goods Sold | 255,000 |
The cost of goods sold as a percentage of net sales revenue is ________. (Round your answer to two decimal places.)
Related Book For
Fundamentals of Taxation 2019
ISBN: 9781260158670
12th edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
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