ABC has one 80% controlled Subsidiary, DFG. DFG purchases 2" steel rods to make fastener...
60.1K
Verified Solution
Link Copied!
Question
Accounting
ABC has one 80% controlled Subsidiary, DFG. DFG purchases 2" steel rods to make fastener with their CNC screw machines. They can make 4" to 1/8' fasteners, screws. When the fasteners are complete they are shipped to ABC at cost. Do I steel need to perform eliminating entries on this upstream intercompany transaction for consolidated financials, why or why not?
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.