Question: Questions no. 15 through 19 are based on the below fact Following are several figures reported for Allister and Barone as of December 31, 2018
Questions no. 15 through 19 are based on the below fact Following are several figures reported for Allister and Barone as of December 31, 2018 Allister Barone Inventory $500.000 $300.000 Sales 1.000.000 800.000 Investment income not given Cost of goods sold 500.000 400.000 Operating expenses 230 000 300.000 Allister acquired 90 percent of Barone in January 2017. In allocating the newly acquired subsidiary's fair value at the action date, Alter noted that Barone had developed a customer list worth $78,000 that was unrecorded on its accounting records and had a year remaining life Any remaining excess fair value over Barone's book value was attributed to goodwill. During 2018, Barone sells inventory coming $130 000 to Alister for S180 000. Of this amount 10 percent remains sold in Allister's warehouse at year-end What is Dec 31, 2018 balance of consolidated Inventory? 5975,000 $500,000 5795,000 $5,000 $300,000 QUESTION 16 What is Dec 31, 2018 balance of unconsolidated sales? 51.620.000 51.000.000 58000000 5180.000 Not enough information to be determined QUESTION 17 What is Dec 31, 2018 balance of consolidated Cost of Goods Sold? 5500.000 $400,000 $180 000 5715.000 None of the above
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