Description of this paper

Strickland Company sells inventory to its parent.

Description

solution


Question

Strickland Company sells inventory to its parent. Carter Company at a profit during 2010. One-third of the inventory is sold by Carter in 2010.;Question;? In the consolidation worksheet in 2010, which of the following choices would be a debit to eliminate the intra-entity transfer of inventory?;a) Retained earnings;b) Cost of goods sold;c) Investment in Strickland Co;d) Sales;? In the consolidation worksheet in 2010, which of the following choices would be a credit to eliminate the intra-entity transfer of inventory?;a) Retained earnings;b) Cost of goods sold;c) Inventory;d) Investment in Strickland Co;e) Sales;? In the consolidation worksheet in 2010, which of the following choices would be a debit to eliminate unrealized intra-entity gross profit with regard to the 2010 intra-entity sales?;a) Retained earnings;b) Cost of goods sold;c) Inventory;d) Investment in Strickland Co;e) Sales

 

Paper#33920 | Written in 18-Jul-2015

Price : $32
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