Question: Please show work for correct answer thanks so much! Parfum Co. sells $50k in inventory to their 80%-owned subsidiary Stink Inc. for $60k. By end-of-year,

Please show work for correct answer thanks so much! Parfum Co.

Please show work for correct answer thanks so much!

Parfum Co. sells $50k in inventory to their 80%-owned subsidiary Stink Inc. for $60k. By end-of-year, S has 1/4 of this inventory left on-hand, having sold 75% of the inventory to nonaffiliate Q Co. for $70k. Assuming no other inventory sales or purchases occurred, reported consolidated Inventory should be O a. $15k O b. $12,500 O c. $15,625 O d. $10k

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Please show work for correct answer thanks so much! Potion Co. sells $100k in inventory to their 80%-owned subsidiary Salve Inc. for $120k. By end-of-year, Shas 1/4 of this inventory left on-hand,...

hi i need help with this accounting data entry thanks Exercise 5-5 Presented below are transactions related to Bogner Company. 1 . 2 . 3 . On December 3, Bogner Company sold $616,900 of merchandise...

Is there someone who can edit an accounting financial analysis or answer theses questions for this project on for the financial stamens in the Empire company? Acctg 501 Fall 2016 Term Project This...

get an anwer and solution of problem in both paper 1 full disclousure second revenue recognition IV. Test Questions and Solutions Chapter 1 Multiple Choice 1. What basic financial statements can be...

Needing ANSWERS ASAP! Starting at pg 34 - Labeled Graded Project 06155200: Graded Project Instructions & Worksheets 1 Lesson 1: Business, Accounting, and You PROJECT GOAL The goal of this graded...

please open the attachment. there are my questions 1. In computing its predetermined overhead rate, Marple Company inadvertently left its indirect labor costs out of the computation. This oversight...

I have attached the discussion board 6 questions,scenario. and lectures for yourreview and response. I will submit a students questions for a response when I receive one. Thank You MKT500 Discussion...

please help me with these answer. i need it in two more hours from now thank you. please make sure its correct. Quick Links Logout QUESTION 1 1. A cash purchase of land would appear in which of the...

I have three assignments that I need your help with. Please provide answers to study guide on answer sheet. Thank you in advance. FINANCIAL AND MANAGERIAL ACCOUNTING - Fifth Edition E17-17 Compute...

Hi Can you help me to solve this assignment with an explanation, please? I did some question but I'm not sure please see if is it correct? Thank you so much Accounting 111 Final Exam - Show your...

Consider the following options available to a mortgage borrower: Loan Amount Interest Rate (%) Type of Mortgage Discount Points Option 1 $150,000 6.35 30-year fixed 1 Option 2 $120,000 6.42 30-year...

Q12{Firm D's price is $47:46. Firm pays annual dividends of $1:03 and it is expected that the dividends will grow at 7%. The rm's trailing annual earnings per share are $3:22. and the required rate...

Carla Vista Company's unit costs based on 1 0 0 0 0 0 units are: \ table [ [ Variable cost , $ 7 5

10) For a bond that pays cash interest (i.e., not a zero coupon bond), YTM is (a) always equal to the coupon rate (b) always equal to the current yield (c) is always less than the coupon rate (d) can...

1. Do you think that chief executives should still receive an enormous bonus even if the organisation that they have led has performed badly? List the arguments for and against.

explain the role of various people and groups in health and safety and wellbeing at work

explain the key points in the main legislation relating to health, safety and wellbeing at work