Business, 07.07.2020 16:01, musfirahkhurram
Parker Corp. owns 80% of Smith Inc.'s common stock. During Year 1, Parker sold Smith $250,000 of inventory on the same terms as sales made to third parties. Smith sold all of the inventory purchased from Parker in Year 1. The following information pertains to Smith and Parker's sales for Year 1:
Parker:
Sales $ 1,000,000
Cost of sales 400,000
Total $ 600,000
Smith:
Sales $ 700,000
Cost of sales $ 350,000
Total $ 350,000
What amount should Parker report as cost of sales in its Year 1 consolidated income statement?
a. $750,000
b. $680,000
c. $500,000
d. $430,000
Answers: 3
Business, 22.06.2019 09:30, kingtrent81
Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $385,000; cash paid for rent, $49,000; cash paid to employees for services rendered during the year, $129,000; cash paid for utilities, $59,000. in addition, you determine that customers owed the company $69,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,900 at year-end, and the rent payment was for a two-year period.
Answers: 1
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Answers: 3
Business, 22.06.2019 20:10, boofpack9775
As the inventor of hypertension medication, onesure pharmaceuticals (osp) inc. was able to reap the benefits of economies of scale due to a large consumer demand for the drug. even when competitors later developed similar drugs after the expiry of osp's patents, regular users did not want to switch because they were concerned about possible side effects. which of the following benefits does this scenario best illustrate? a. first-mover advantages b. social benefits c. network externalities d. fringe benefits
Answers: 3
Parker Corp. owns 80% of Smith Inc.'s common stock. During Year 1, Parker sold Smith $250,000 of inv...
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