Refer to this data for questions 4-7. all Peanut Butter Company routinely receives goods from its...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Refer to this data for questions 4-7. all Peanut Butter Company routinely receives goods from its 80%-owned subsidiary, Sinnamon Corporation. In 20X4, Sinnamon sold merchandise that cost $70,000 to Peanut Butter for $90,000, Half of this merchandise remained in Peanut Butter's December 31, 20X4 inventory. This inventory was sold in 20X5. During 20X5, Sinnamon sold merchandise that cost $150,000 to Peanut Butter for $210,000. One-third of the 20X5 merchandise inventory remained in Peanut Butter's December 31, 20X5 inventory. Selected income statement information for the two affiliates for the year 20X5 was as follows: Peanut Butter Sinnamon Sales Revenue $500,000 Cost of Goods Sold 350,000 Other Expenses 50.000 Separate Net Incomes $100.000 $400,000 260,000 70.000 $70,000 4 yet were ints out of 30 Flag question Consolidated cost of goods sold for Peanut Butter and Sinnamon for 2005 was Select one O a $410,000 Ob $390,000 Oc $380,000 Od $420,000 Oe $610,000 5 nd wut of 3.0 question What amount of unrealized profit was in Peanut Butter's invertory at the end of 20X57 Select one: O a $60,000 Ob $10,000 OC $20,000 Od $70,000 Oe. $30,000 6 P of 40 What was Peanut Butter's income from Sinnamon in 20X57 Select one O $56,000 Ob $30,000 OC $32,000 O d. $40,000 O e. $48,000 7 wed out of 43 question What was the non-controlling interest share on the consolidated income statement for 20x57 Select one OA $10,000 Ob. $12.000 Oc $14,000 Od. $8,000 Oe $9,000 Refer to this data for questions 4-7. all Peanut Butter Company routinely receives goods from its 80%-owned subsidiary, Sinnamon Corporation. In 20X4, Sinnamon sold merchandise that cost $70,000 to Peanut Butter for $90,000, Half of this merchandise remained in Peanut Butter's December 31, 20X4 inventory. This inventory was sold in 20X5. During 20X5, Sinnamon sold merchandise that cost $150,000 to Peanut Butter for $210,000. One-third of the 20X5 merchandise inventory remained in Peanut Butter's December 31, 20X5 inventory. Selected income statement information for the two affiliates for the year 20X5 was as follows: Peanut Butter Sinnamon Sales Revenue $500,000 Cost of Goods Sold 350,000 Other Expenses 50.000 Separate Net Incomes $100.000 $400,000 260,000 70.000 $70,000 4 yet were ints out of 30 Flag question Consolidated cost of goods sold for Peanut Butter and Sinnamon for 2005 was Select one O a $410,000 Ob $390,000 Oc $380,000 Od $420,000 Oe $610,000 5 nd wut of 3.0 question What amount of unrealized profit was in Peanut Butter's invertory at the end of 20X57 Select one: O a $60,000 Ob $10,000 OC $20,000 Od $70,000 Oe. $30,000 6 P of 40 What was Peanut Butter's income from Sinnamon in 20X57 Select one O $56,000 Ob $30,000 OC $32,000 O d. $40,000 O e. $48,000 7 wed out of 43 question What was the non-controlling interest share on the consolidated income statement for 20x57 Select one OA $10,000 Ob. $12.000 Oc $14,000 Od. $8,000 Oe $9,000 Refer to this data for questions 4-7. all Peanut Butter Company routinely receives goods from its 80%-owned subsidiary, Sinnamon Corporation. In 20X4, Sinnamon sold merchandise that cost $70,000 to Peanut Butter for $90,000, Half of this merchandise remained in Peanut Butter's December 31, 20X4 inventory. This inventory was sold in 20X5. During 20X5, Sinnamon sold merchandise that cost $150,000 to Peanut Butter for $210,000. One-third of the 20X5 merchandise inventory remained in Peanut Butter's December 31, 20X5 inventory. Selected income statement information for the two affiliates for the year 20X5 was as follows: Peanut Butter Sinnamon Sales Revenue $500,000 Cost of Goods Sold 350,000 Other Expenses 50.000 Separate Net Incomes $100.000 $400,000 260,000 70.000 $70,000 4 yet were ints out of 30 Flag question Consolidated cost of goods sold for Peanut Butter and Sinnamon for 2005 was Select one O a $410,000 Ob $390,000 Oc $380,000 Od $420,000 Oe $610,000 5 nd wut of 3.0 question What amount of unrealized profit was in Peanut Butter's invertory at the end of 20X57 Select one: O a $60,000 Ob $10,000 OC $20,000 Od $70,000 Oe. $30,000 6 P of 40 What was Peanut Butter's income from Sinnamon in 20X57 Select one O $56,000 Ob $30,000 OC $32,000 O d. $40,000 O e. $48,000 7 wed out of 43 question What was the non-controlling interest share on the consolidated income statement for 20x57 Select one OA $10,000 Ob. $12.000 Oc $14,000 Od. $8,000 Oe $9,000 Refer to this data for questions 4-7. all Peanut Butter Company routinely receives goods from its 80%-owned subsidiary, Sinnamon Corporation. In 20X4, Sinnamon sold merchandise that cost $70,000 to Peanut Butter for $90,000, Half of this merchandise remained in Peanut Butter's December 31, 20X4 inventory. This inventory was sold in 20X5. During 20X5, Sinnamon sold merchandise that cost $150,000 to Peanut Butter for $210,000. One-third of the 20X5 merchandise inventory remained in Peanut Butter's December 31, 20X5 inventory. Selected income statement information for the two affiliates for the year 20X5 was as follows: Peanut Butter Sinnamon Sales Revenue $500,000 Cost of Goods Sold 350,000 Other Expenses 50.000 Separate Net Incomes $100.000 $400,000 260,000 70.000 $70,000 4 yet were ints out of 30 Flag question Consolidated cost of goods sold for Peanut Butter and Sinnamon for 2005 was Select one O a $410,000 Ob $390,000 Oc $380,000 Od $420,000 Oe $610,000 5 nd wut of 3.0 question What amount of unrealized profit was in Peanut Butter's invertory at the end of 20X57 Select one: O a $60,000 Ob $10,000 OC $20,000 Od $70,000 Oe. $30,000 6 P of 40 What was Peanut Butter's income from Sinnamon in 20X57 Select one O $56,000 Ob $30,000 OC $32,000 O d. $40,000 O e. $48,000 7 wed out of 43 question What was the non-controlling interest share on the consolidated income statement for 20x57 Select one OA $10,000 Ob. $12.000 Oc $14,000 Od. $8,000 Oe $9,000
Expert Answer:
Answer rating: 100% (QA)
4 b 5 c 6 e 7 d EXPLANATIONS 4 Cost of goods sold is calculated by adding beginning inventory ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
2- Pelga Company routinely receives goods from its 80%-owned subsidiary, Swede Corporation. In 2014, Swede sold merchandise that cost $80,000 to Pelga for $100,000. Half of this merchandise remained...
-
Income statement relations Selected income statement information for Lenovo Group Limited (Lenovo), a Hong Kong personal computer manufacturer, for two recent years appears in the following display...
-
Selected income statement information for EastonHome, a U.S. consumer products manufacturer, appears next. All amounts are in millions of U.S. dollars ($). Compute the missingamounts. 2013 2012 2011...
-
The following information was drawn from the 2016 accounting records of Ozark Merchandisers: 1. Inventory that had cost $21,200 was sold for $39,900 under terms 2/20, net/30. 2. Customers returned...
-
The information below was taken from the footnotes of JPMorgan Chases 2012 annual report. The December 31, 2012, balance in the allowance account was $21,936 (dollars in millions). REQUIRED: Compute...
-
Use the following tree diagram to answer the questions in Problems 25-30. Which path number represents \(P\left(\bar{D} \mid A_{3}ight)\) ? A A2 A3 D D D D D D Path number 1 2 3 4 5 6
-
What roles have art and artifacts played in colonialism and the expansion of European and North American power?
-
Cox Media Corporation pays an 11 percent coupon rate on debentures that are due in 10 years. The current yield to maturity on bonds of similar risk is 8 percent. The bonds are currently callable at...
-
Discuss whether security influences an organAs the Internet becomes more wireless and as wireless transitions to 5G, does risk and resilience increase or decrease? Why?ization's strategy or their...
-
Firms HD and LD each have $30m in invested capital, $8m of EBIT, and a tax rate of 25%. Firm HD has a D/E ratio of 50% with an interest rate of 8% on its debt. Firm LD has a debt-to-capital ratio of...
-
Shin Company's summarized balance sheets for Year 2 and Year 1 appear below: Dec. 31, Year 2 Dec. 31, Year 1 Cash $ 47,200 $ 44,300 33,900 26,600 Accounts receivable 32,800 26,200 Inventory...
-
The following algorithm computes n!: int factorial(n int) { } if (n = 1) return 1; return factorial (n-1) n; What is a reasonable definition of the corresponding recurrence relation T(n)?
-
How does structural functionalism view the evolution of social structures over time, and what factors are considered when assessing the adaptability and resilience of societal systems in the face of...
-
Vector A has a magnitude of 8 . 0 0 units, vector vector B has a magnitude of 9 . 0 0 units, and the dot product A B has a value of 6 7 . What is the angle between the directions of A and vector B ?
-
The output of the following code is: 0 1 2 0 3 0 1. Explain why. #include using namespace std; void fun(int x) { if(x > 0) { fun(--x); cout < < x
-
Discussion's specification/guidelines: (Provide a qualitative analysis of a part of the Rube Goldberg device you're creating in support of your project. Identify an example of an object that is in...
-
Of all the price analysis methodologies that exist, which are the foundational methods. Longing & Shorting. Trading & Investing. Volume & sentiment. On-chain & Macroeconomic. Mean reversion &...
-
A 2500-lbm car moving at 15 mi/h is accelerated at a constant rate of 15 ft/s 2 up to a speed of 50 mi/h. Calculate force and total time required?
-
What is the formula for calculating return on investment (ROI)?
-
Explain the risk and rewards to a company that result from having fixed costs.
-
How are flexible budget variances determined? What causes these variances?
-
The finite element method is a. an approximate analytical method b. a numerical method c. an exact analytical method
-
What is the role of transformation matrices in the finite element method?
-
True or False. The element mass matrices are always singular.
Study smarter with the SolutionInn App