Can you please illustrate how to determine the amount of unrealized profit from an inter-company purchase...
Can you please illustrate how to determine the amount of unrealized profit from an inter-company purchase of inventory (upstream sale), from the following problem:
From the problem, Pear Co. owns 90% of the outstanding capital stock in Sugar Co. During 2014 and 2015 Sugar Co. sold inventory to Pear at a markup of 25% of the selling price. The selling price of the inventory sold during the two years was $20,800 and $25,000, respectively. At the end of each year, Pear had in its inventory one fourth of the goods purchased that year from Sugar. Sugar reported a net income of $30,000 in 2014 and $35,000 in 2015.
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Can you please illustrate how to determine the
amount of unrealized profit from an inter-company purchase...
can you please answer this question and show me your computation. thanks! 9 Erie Corporation manufactures a single product that it sells for $35 per unit. The company has the following cost structure...
can you please answer this question and show me your
computation. thanks!
9 Erie Corporation manufactures a single product that it sells for $35 per unit. The company has the following cost structure: Variable costs per unit: Production Selling and administrative Fixed costs per year: Production Selling and administrative $ 82,500 S60,000 There were no units in inventory at the beginning of the year. During the year 30,000 units were produced and 25,000 units were sold. The company's net operating...
No handwritten work please Yonatan Company was established on Jan 1st 2014 by issuing 1,000 shares...
No handwritten work please
Yonatan Company was established on Jan 1st 2014 by issuing 1,000 shares ($1 par value) in return to $4,000 in cash. As of Dec 31st 2014, the company had the following items on its balance sheet: Cash $25,000, Accounts Receivable, net $23,750, Inventory $10,000, Accrued Expenses $100, Long Term Liabilities $15,000, Common stock (??), Paid in Capital (??), Retained Earnings (??). Also, the allowance for doubtful accounts for Dec 31st 2014 is $1,250. During 2015 the...
How do I calculate the Cash Flows from Investing activities? METRO MEATS LTD Statement of Financial...
How do I calculate the Cash Flows from Investing activities?
METRO MEATS LTD Statement of Financial Position as at 31 December Assets 2015 Cash $ 29,000 $ Accounts receivable 28,000 nventories 25,000 Property, plant & equipment 60,000 Accumulated depreciation (20,000) Total $ 122,000 $ Liabilities and equity Accounts payable $ 26,000 $ Dividends payable 3,000 ncome tax payable 5,000 Debentures payable 27,000 Share capital 18,000 Retained earnings 43,000 Total $ 122,000 $ 2014 15,000 14,000 35,000 78,000 (24,000) 118,000 METRO...
On average how long did it take for the firm to collect from its customers in...
On average how long did it take for the firm to collect from its customers in 2015? On average how long did it take for the firm to collect from its customers in 2015? Balance Sheet and Income Statement ASSETS 2015 2014 CASH AND MARKETABLE SECURITIES 29,000 25,000 ACCOUNTS RECEIVABLE 116,000 100,000 INVENTORIES 145,000 125,000 CURRENT ASSETS 290,000 250,000 GROSS PLANT AND EQUIPMENT 362,000 350,000 LESS: ACCUMULATED DEPRECIATION 130,000 100,000 NET FIXED ASSETS 232,000 250,000 TOTAL ASSETS 522,000 500,000 LIABILITIES...
Could you help me to understand how to fill up those blank boxes of Exhibit 9-1...
Could you help me to understand how to fill up those blank boxes
of Exhibit 9-1 and 9-2 step by step?? 9-2 is continuing question of
9-1. Thank you so much!
EXHIBIT 9-1: APPLICATION OF LOWER-OF-COST-OR-NRV The Purball Cat Food Company has four items in inventory, corresponding to the type of cuisine. Data relating to these items are below! Dry Food Crunchy Goldfish Tidbits $12.400 $30,000 $25,000 $40,000 Cost Selling price Cost to complete and ship Normal profit margin on...
Can you assist me with Accounting? The question comes from Understanding Financial Statements 11th ed. by...
Can you assist me with
Accounting? The question comes from Understanding Financial
Statements 11th ed. by Fraser and it's chapter 4, Problem 9SQP.
Accrued wages payable Interest payable Income tax payable Bonds payable Capital stock Paid-in capital Retained earnings 4.450 3.600 Total Liabilities and Equity $ 8,570 $ 7.320 Income Statement for Year Ended December 31, 2015 Sales 9.500 Cost of goods sold 6,650 Gross profit Other expenses Selling and administrative 1,200 Depreciation Interest Condensed financial statements for Dragoon Enterprises...
Milden Company has an exclusive franchise to purchase a product from the manufacturer and distribute it...
Milden Company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. As an aid in planning, the company has decided to start using a contribution format income statement. To have data to prepare such a statement, the company has analyzed its expenses and has developed the following cost formulas: Cost Cost Formula Cost of good sold $26 per unit sold Advertising expense $183,000 per quarter Sales commissions 7% of sales Shipping...
Milden Company has an exclusive franchise to purchase a product from the manufacturer and distribute it...
Milden Company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. As an aid in planning, the company has decided to start using a contribution format income statement. To have data to prepare such a statement, the company has analyzed its expenses and has developed the following cost formulas Cost Cost of good sold Advertising Cost Formula $30 per unit sold $180,000 per expense quarter Sales commissions Shipping expense Administrative 7%...
7. The financial statements of Elcamino Company appear below: ELCAMINO COMPANY Comparative Balance Sheet December 31,...
7. The financial statements of Elcamino Company appear below: ELCAMINO COMPANY Comparative Balance Sheet December 31, Assets Cash Debt investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets $ 2017 $ 25,000 20.000 50,000 140,000 170,000 $405,000 2016 40,000 60,000 30.000 170,000 200,000 $500.000 Liabilities and stockholders equity Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 25,000 40,000 75,000 160,000 105.000 S405,000 $ 30,000 90,000 160,000 145,000 75,000...
can you show me steps how to slove each please. (1) Devar Company sells exercise machines...
can you show me steps how to slove each please.
(1) Devar Company sells exercise machines for home use. The machines carry a 2-year warranty. Past experience indicates that 6% of the units sold will be returned during the warranty period for repairs. The average cost of repairs under warranty is $80 for labor and $120 for parts per unit. During 2019, 2,500 exercise machines were sold at an average price of $1,000. During the year, 60 of the machines...
can you please answer this question and show me your
computation. thanks!
9 Erie Corporation manufactures a single product that it sells for $35 per unit. The company has the following cost structure: Variable costs per unit: Production Selling and administrative Fixed costs per year: Production Selling and administrative $ 82,500 S60,000 There were no units in inventory at the beginning of the year. During the year 30,000 units were produced and 25,000 units were sold. The company's net operating...
No handwritten work please
Yonatan Company was established on Jan 1st 2014 by issuing 1,000 shares ($1 par value) in return to $4,000 in cash. As of Dec 31st 2014, the company had the following items on its balance sheet: Cash $25,000, Accounts Receivable, net $23,750, Inventory $10,000, Accrued Expenses $100, Long Term Liabilities $15,000, Common stock (??), Paid in Capital (??), Retained Earnings (??). Also, the allowance for doubtful accounts for Dec 31st 2014 is $1,250. During 2015 the...
How do I calculate the Cash Flows from Investing activities?
METRO MEATS LTD Statement of Financial Position as at 31 December Assets 2015 Cash $ 29,000 $ Accounts receivable 28,000 nventories 25,000 Property, plant & equipment 60,000 Accumulated depreciation (20,000) Total $ 122,000 $ Liabilities and equity Accounts payable $ 26,000 $ Dividends payable 3,000 ncome tax payable 5,000 Debentures payable 27,000 Share capital 18,000 Retained earnings 43,000 Total $ 122,000 $ 2014 15,000 14,000 35,000 78,000 (24,000) 118,000 METRO...
Could you help me to understand how to fill up those blank boxes
of Exhibit 9-1 and 9-2 step by step?? 9-2 is continuing question of
9-1. Thank you so much!
EXHIBIT 9-1: APPLICATION OF LOWER-OF-COST-OR-NRV The Purball Cat Food Company has four items in inventory, corresponding to the type of cuisine. Data relating to these items are below! Dry Food Crunchy Goldfish Tidbits $12.400 $30,000 $25,000 $40,000 Cost Selling price Cost to complete and ship Normal profit margin on...
Can you assist me with
Accounting? The question comes from Understanding Financial
Statements 11th ed. by Fraser and it's chapter 4, Problem 9SQP.
Accrued wages payable Interest payable Income tax payable Bonds payable Capital stock Paid-in capital Retained earnings 4.450 3.600 Total Liabilities and Equity $ 8,570 $ 7.320 Income Statement for Year Ended December 31, 2015 Sales 9.500 Cost of goods sold 6,650 Gross profit Other expenses Selling and administrative 1,200 Depreciation Interest Condensed financial statements for Dragoon Enterprises...
Milden Company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. As an aid in planning, the company has decided to start using a contribution format income statement. To have data to prepare such a statement, the company has analyzed its expenses and has developed the following cost formulas: Cost Cost Formula Cost of good sold $26 per unit sold Advertising expense $183,000 per quarter Sales commissions 7% of sales Shipping...
Milden Company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. As an aid in planning, the company has decided to start using a contribution format income statement. To have data to prepare such a statement, the company has analyzed its expenses and has developed the following cost formulas Cost Cost of good sold Advertising Cost Formula $30 per unit sold $180,000 per expense quarter Sales commissions Shipping expense Administrative 7%...
7. The financial statements of Elcamino Company appear below: ELCAMINO COMPANY Comparative Balance Sheet December 31, Assets Cash Debt investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets $ 2017 $ 25,000 20.000 50,000 140,000 170,000 $405,000 2016 40,000 60,000 30.000 170,000 200,000 $500.000 Liabilities and stockholders equity Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 25,000 40,000 75,000 160,000 105.000 S405,000 $ 30,000 90,000 160,000 145,000 75,000...
can you show me steps how to slove each please.
(1) Devar Company sells exercise machines for home use. The machines carry a 2-year warranty. Past experience indicates that 6% of the units sold will be returned during the warranty period for repairs. The average cost of repairs under warranty is $80 for labor and $120 for parts per unit. During 2019, 2,500 exercise machines were sold at an average price of $1,000. During the year, 60 of the machines...
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