Pie bakery owns 60 percent of slice products company's stock. during 20x8. slice produced 100,000 bags of flour, which it sold to pie bakery for $900,000. on december 31, 20x8, pie had 20,000 bags of flour purchased from slice products on hand. slice prices its sales at cost plus 50 percent of cost for profit. pie, which purchased all its flour from slice in 20x8, had no inventory on hand on january 1, 20x8. pie bakery reported income from its baking operations of $400,000, and slice products reported net income of $150,000 for 20x8. required.
a. compute the amount reported as cost of goods sold in the 20x8 consolidated income statement.

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)

Compare the sources of consumer credit(there's not just one answer)1. consumers use a prearranged loan using special checks2. consumers use cards with no interest and non -revolving balances3. consumers pay off debt and credit is automatically renewed4. consumers take out a loan with a repayment date and have a specific purposea. travel and entertainment creditb. revolving check creditc. closed-end creditd. revolving credit

12.     to produce a textured purée, you would use a/an a. food processor. b. wide-mesh sieve. c. immersion blender d. food mill. student a   incorrect which is correct answer?