subject
Business, 09.07.2020 01:01 needsdarkness6016

Scroll Inc., a wholly owned subsidiary of Pirn Inc., began operations on January 1, 20X1. The following information is from the condensed 20X1 income statements of Pirn and Scroll: Pirm
Sales to Scroll $100,000
Sales to others $400,000
Cost of goods sold: $500,000
Acquired from Pirn -
Acquired from others $350,000
Gross profit $150,000
Depreciation $40,000
Other expenses $60,000
Income from operations $50,000
Gain on sale of equipment to Scroll $12,000
Income before income taxes: $38,000
Scroll
Sales to Scroll -
Sales to others $300,000
Cost of goods sold: $300,000
Acquired from Pirn $80,000
Acquired from others $190,000
Gross profit $30,000
Depreciation $10,000
Other expenses $15,000
Income from operations $5,000
Gain on sale of equipment to Scroll -
Income before income taxes $5,000
Additional Information
Sales by Pirn to Scroll are made on the same terms as those made to third parties.
Equipment purchased by Scroll from Pirn for $36,000 on January 1, Year 4, is depreciated using the straight-line method over 4 years.
In Pirn’s December 31, Year 4, consolidating worksheet, how much intraentity profit should be eliminated from Scroll’s inventory?

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 22.06.2019 13:10, kell22wolf
Lin corporation has a single product whose selling price is $136 per unit and whose variable expense is $68 per unit. the company’s monthly fixed expense is $32,400. required: 1. calculate the unit sales needed to attain a target profit of $5,000. (do not round intermediate calculations.) 2. calculate the dollar sales needed to attain a target profit of $8,400.
Answers: 3
image
Business, 22.06.2019 19:20, cathydaves
Bcorporation, a merchandising company, reported the following results for october: sales $ 490,000 cost of goods sold (all variable) $ 169,700 total variable selling expense $ 24,200 total fixed selling expense $ 21,700 total variable administrative expense $ 13,200 total fixed administrative expense $ 33,600 the contribution margin for october is:
Answers: 1
image
Business, 22.06.2019 20:30, andrewjsoto
Read the overview below and complete the activities that follow. apartment complexes often look for ways to recruit new tenants and retain current tenants. although apartment complexes offer the tangible benefit of shelter to their tenants, many apartment complexes also offer additional services to tenants to encourage tenants to stay or to support the rent prices. the following scenario identifies the several service gaps of a company that runs an apartment complex as well as solutions for reducing these service gaps. concept review: customers have certain expectations about how a service should be delivered. a service gap occurs when the delivery of a service fails to meet customer expectations. there are four types of service gaps: knowledge gap, standards gap, delivery gap, and the communications gap. it is important for marketers to identify these gaps and develop strategies for minimizing them. match the example or solution to the appropriate service gap category.1. wait for repairs 5. train employees well2. understand expectations 6. incentives for tenants3. do not overpromise 7. family movie night4. empower employees 8. delayed lawn careservice gap example solutionknowledge gap standards gap delivery gap communication gap
Answers: 3
image
Business, 22.06.2019 22:10, Har13526574
jackie's snacks sells fudge, caramels, and popcorn. it sold 12,000 units last year. popcorn outsold fudge by a margin of 2 to 1. sales of caramels were the same as sales of popcorn. fixed costs for jackie's snacks are $14,000. additional information follows: product unit sales prices unit variable cost fudge $5.00 $4.00 caramels $8.00 $5.00 popcorn $6.00 $4.50 the breakeven sales volume in units for jackie's snacks is
Answers: 1
You know the right answer?
Scroll Inc., a wholly owned subsidiary of Pirn Inc., began operations on January 1, 20X1. The follow...

Questions in other subjects: