Business, 12.03.2020 03:41 jenifferplowman
Cadion Co. owned a controlling interest in Knieval Inc. Cadion reported sales of $420,000 during 2011 while Knieval reported $280,000. Inventory costing $28,000 was transferred from Knieval to Cadion (upstream) during the year for $56,000. Of this amount, twenty-five percent was still in ending inventory at year's end. Total receivables on the consolidated balance sheet were $112,000 at the first of the year and $154,000 at year-end. No intra-entity debt existed at the beginning or ending of the year. Using the direct approach, what is the consolidated amount of cash collected by the business combination from its customers?A. $602,000.B. $644,000.C. $686,000.D. $714,000.E. $592,000.
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Cadion Co. owned a controlling interest in Knieval Inc. Cadion reported sales of $420,000 during 201...
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