Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. required information postage corporation receives

Required information Postage Corporation receives management consulting services from its 92 percent-owned subsidiary. Stamp Inc....

50.1K

Verified Solution

Question

Accounting

image
Required information Postage Corporation receives management consulting services from its 92 percent-owned subsidiary. Stamp Inc. During 20X7. Postage paid Stamp $125,432 for its services. For the year 20X8, Stamp billed Postage $140,000 for such services and collected all but $7900 by year-end. Stamp's labor cost and other associated costs for the employees providing services to Postage totaled $86,000 in 20X7 and $121,000 in 20X8. Postage reported $2,567,000 of income from its own separate operations for 20X8, and Stamp reported net income of $695,000 Based on the preceding Information, what amount of consolidated net income should be reported in 20x8? Multiple Choice $3.262.000 S4,050.000 O ooo O $3,254100 $3122,000

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1. Which of the following is a direct factor that effects the selection of form adopted...

Finance
Q

explain what RuBisCo is and what its role is in producing glucose explain what the proton motive...

Biology
Q

       Based on what you have learned about antigen presentation, T cells, and viral infections, describe the...

Biology
Q

Which of the following describes the right atrium? Select all the correct options.a) It receives...

Biology
Q

10 In the figure shown the equivalent capacitance between A and B is 10 F...

Physics
Q

A cylindrical conductor carries a constant current I out of the screen The line integral...

Physics
Q

Solve the following linear programming problem z 2x 9y 6x 5y 30 10x y 30...

Basic Math
Q

M.T. Glass, Inc. is considering the acquisition of a new piece of heavy machinery to...

Accounting
Q

A company uses standard costing. For the month, actual variable overhead costs were $100,000. During...

Accounting
Q

If a warranty is sold separately from the product sale, warranty expense is recognized at...

Accounting
Q

Closing the Balances in The Variance Accounts at the End of the Year Yohan Company...

Accounting
Q

You have developed the following data on three stocks: Stock Standard Deviation Beta 0.25 0.61...

Finance