Business, 13.11.2019 23:31, Wolfgirl2032

Lorn corporation purchased inventory from dresser corporation for $120,000 on september 20, 20x1, and resold 80 percent of the inventory to unaffiliated companies prior to december 31, 20x1, for $140,000. dresser produced the inventory sold to lorn for $75,000. lorn owns 70 percent of dresser’s voting common stock. the companies had no other transactions during 20x1. 3. what amount of consolidated net income will be assigned to the controlling interest for 20x1?

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 20:30, hoolio4495

At a young age, ebony's coaches were confident she had the potential to be a world-class swimmer with a future coaching career. after four years on an athletic scholarship and olympic experience under her belt, she chose a different path. with her savings and personal connections, she rented a corner building in a bustling san francisco neighborhood and pursued her dream: a surf shop business. ebony's dream was rooted in which basic right of free-market capitalism?

Answers: 3

continue

Business, 22.06.2019 10:10, manny2275

True tomato inc. makes organic ketchup. to promote its products, this firm decided to make bottles in the shape of tomatoes. to accomplish this, true tomato worked with its bottle manufacture to create a set of unique molds for its bottles. which of the following specialized assets does this example demonstrate? (a) site specificity (b) research specificity (c) physical-asset specificity (d) human-asset specificity

Answers: 3

continue

Business, 22.06.2019 11:20, ebt2367

Money aggregates identify whether each of the following examples belongs in m1 or m2. if an example belongs in both, be sure to check both boxes. example m1 m2 gilberto has a roll of quarters that he just withdrew from the bank to do laundry. lorenzo has $25,000 in a money market account. neha has $8,000 in a two-year certificate of deposit (cd).

Answers: 3

continue

Business, 22.06.2019 11:40, maddied2443

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?

Answers: 3

continue

Do you know the correct answer?

Lorn corporation purchased inventory from dresser corporation for $120,000 on september 20, 20x1, an...