Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a subsidiary sells inventory to its parent at a ma

A subsidiary sells inventory to its parent at a markup of 30% on cost. in...

70.2K

Verified Solution

Question

Accounting

A subsidiary sells inventory to its parent at a markup of 30% on cost. in 2019, the parent paid $650,000 for merchandise received from the subsidiary. The parent sold $455,000 of the inventory to outside parties and the remaining $195,000 is stored in a warehouse. Write the elimination entries needed for the 2019 consolidation worksheet for the inter company inventory sales

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

This information would be most important in which of the following scenarios Economy In civilian...

Physics
1.2K views

] Accreting, spinning, magnetized systems tend to: Accelerate Grow in mass Produce jets Produce supernovae Cannot be predicted [28] If space had...

Biology
1.2K views

through the ETC ATP Inhibition of complex II will decrease but not stop electron transfer...

Biology
1.2K views

Label the 5 reagents necessary for a successful Polymerase Chain Reaction and their function

Basic Math
1.2K views

TO O 2 Let A 1 2 1 0 3 a Find A using the...

Calculus
1.2K views

1 point Find the mass of the triangular region with vertices 0 0 3 0...

Calculus
1.2K views

10 5 pts Use the Squeeze Theorem to show lim x 3 sin x 0...

Calculus
1.2K views

Identify any vertical horizontal or oblique asymptotes in the graph of y f x State...

Calculus
1.2K views

v 1 6 2 w 8 10 1 Find the cosine of the angle between...

Accounting
1.2K views

The following information is taken from the financial records of Flowserve Inc. Cost of...

Accounting
1.2K views

Problem 7-45 (LO 7-2) (Algo) Skip to question [The following information applies to...

Accounting
1.2K views

Exercise 6-18 (Algo) Break-Even and Target Profit Analysis; Margin of Safety; CM Ratio [LO6-1, LO6-3,...