subject
Business, 06.04.2021 04:40 crodriguez87

Samuel sold land with a basis of $50,000 and a fair value of $70,000 to Timuel during Year 1. During Year 2, Timuel sold the land for $130,000. Timuel sold inventory costing $15,000 to Samuel for $25,000 in Year 1. Samuel sold half of this inventory to its customers for $20,000 in Year 1 and sold the remaining inventory for $25,000 in Year 2. Timuel sold an investment security to Samuel for a gain of $6,000 in Year 1. Samuel sells the investment security to an unrelated party for an additional gain of $5,000 during Year 2. Samuel sold inventory to Timuel for $40,000 during Year 1. Samuel marks up the price of its inventory 25%. Timuel, during the same year, sold the inventory for $45,000 to unrelated parties. Calculate income that should be reported for the consolidated group for Year 1 and Year 2 using the information above. Enter the appropriate amounts in the designated cells below. Enter all amounts as positive values. If no entry is necessary, enter a zero (0). Year 1 Year 2 1. Sale of land from Samuel to Timuel $0.00 $80,000.00 2. Sale of inventory from Timuel to Samuel $12,500.00 $17,500.00 3. Sale of investment security from Timuel to Samuel $0.00 $5,000.00 4. Sale of inventory from Samuel to Timuel $13,000.00 $0.00

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 21.06.2019 21:00, Bri0929
Upscale hotels in the united states recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. a survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the internet and the telephone, to transact business. assume a company's budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. graphically illustrate how a 20 percent decline in the price of business travel would impact this company's budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. is the company allocating resources efficiently? explain.
Answers: 1
image
Business, 22.06.2019 03:40, lexybellx3
Apharmaceutical packaging company (ppc) has decided to reorganize its processes into cells. the company has four different production operations, each requiring a unique piece of equipment. the names and functions of the four pieces of equipment are sort, count, place, and package. the company packages five different families of products (a, b, c, d, and e). the tables below indicate the demand (total units/day by product family), required operations, and operation cycle times for each product family. assume that any individual piece of equipment is available to operate 16 hours/day, but 2 hours (in total) are lost each day on each piece of equipment due to breaks and meetings when operators are not available to operate the equipment. how many minutes/day are available for production
Answers: 3
image
Business, 22.06.2019 11:00, sbelgirl2000
Consider an economy where government expenditures are 10 and total tax revenues are 10. the supply of labor is fixed at 125 and the supply of capital is fixed at 8. the economy is described by the following equations. y k to the power of 1 divided by 3 end exponent l to the power of 2 divided by 3 end exponent c 2.5 + 0.75 ( y - t ) i 10 - 0.5 r the level of private savings is
Answers: 1
image
Business, 22.06.2019 11:20, angeline2004
Stock a has a beta of 1.2 and a standard deviation of 20%. stock b has a beta of 0.8 and a standard deviation of 25%. portfolio p has $200,000 consisting of $100,000 invested in stock a and $100,000 in stock b. which of the following statements is correct? (assume that the stocks are in equilibrium.) (a) stock b has a higher required rate of return than stock a. (b) portfolio p has a standard deviation of 22.5%. (c) portfolio p has a beta equal to 1.0. (d) more information is needed to determine the portfolio's beta. (e) stock a's returns are less highly correlated with the returns on most other stocks than are b's returns.
Answers: 3
You know the right answer?
Samuel sold land with a basis of $50,000 and a fair value of $70,000 to Timuel during Year 1. During...

Questions in other subjects:

Konu
Engineering, 17.04.2020 01:31
Konu
Chemistry, 17.04.2020 01:31