Homework Answers
Ans: The correct option for the answer is option A i.e. $3,262,000
Net income of postage reported= 2,567,000
Net income of stamp reported= 695,000
Consolidated net income that should reported in 20X8= 2,567,000+695,000
= $ 3,262,000
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Please show formulas!!
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During 2013, Pier One Company billed its 80% owned subsidiary,
Scale Company, $723,600 for architectural services. The cost to
Pier One Company of providing the services was $426,500 for
salaries and $147,100 for other operating expenses. Scale Company
charged the architecture fees to the cost of a building that it
opened on January 1, 2014. The building had an estimated useful
life of 30 years.
Prepare in general journal form the workpaper entries relating to
the intercompany fees that are...
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Please show formulas!!
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