Business, 09.11.2019 03:31 soriajimmy85

Patti company owns 80% of the common stock of shannon, inc. in the current year, patti reports sales of
$10,000,000 and cost of goods sold of $7,500,000. for the same period, shannon has sales of $200,000
and cost of goods sold of $160,000. during the year, patti sold merchandise to shannon for $60,000 at
a price based on the normal markup. at the end of the year, shannon still possesses 30 percent of this
inventory.

compute consolidated cost of goods sold.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 17:00

Herman is covered by a cafeteria plan by his employer. his adjusted gross income (agi) is $100,000. he paid unreimbursed medical premiums in the amount of $10,500 and he itemizes deductions. what amount will herman be able to deduct for his medical insurance premium expenses?

Answers: 1

Answer

Business, 22.06.2019 12:30

howard, fine, & howard is an advertising agency. the firm uses an activity-based costing system to allocate overhead costs to its services. information about the firm's activity cost pool rates follows: stooge company was a client of howard, fine, & howard. recently, 7 administrative assistant hours, 3 new ad campaigns, and 8 meeting hours were incurred for the stooge company account. using the activity-based costing system, how much overhead cost would be allocated to the stooge company account?

Answers: 1

Answer

Business, 22.06.2019 14:30

Which of the following is an example of a positive externality? a. promoting generic drugs would benefit people. b. a lower inflation rate would benefit most consumers. c. compulsory flu shots for all students prevents the spread of illness in the general public. d. singapore has adopted a comprehensive savings plan for all workers known as the central provident fund.

Answers: 1

Answer

Business, 22.06.2019 14:50

The following information is needed to reconcile the cash balance for gourmet catering services. * a deposit of $5,600 is in transit. * outstanding checks total $1,000. * the book balance is $6,400 at february 28, 2019. * the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent. * the bank balance at february 28, 2019 was $17,410. * a deposit of $400 was credited by the bank for $4,000. * a customer's check for $3,300 was returned for nonsufficient funds. * the bank service charge is $90. what was the adjusted book balance?

Answers: 1

Answer

You know the right answer?

Patti company owns 80% of the common stock of shannon, inc. in the current year, patti reports sales...

Questions