The inventory of a merchandising company consists of Raw Materials Inventory, Work-in-Process Inventory, and Finished Goods Inventory
Indicate whether the statement is true or false
FALSE
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On December 31, 20X8, Pancake Company acquired controlling ownership of Syrup Company. A consolidated balance sheet was prepared immediately. Partial balance sheet data for the two companies and the consolidated entity at that date follow: PancakeSyrupConsolidated CompanyCompanyEntityCash $80,000 $30,000 $110,000 Accounts Receivable 50,000 ? 78,000 Inventory 60,000 50,000 115,000 Buildings and Equipment 200,000 140,000 365,000 Less: Accumulated Depreciation (50,000) (28,000) (78,000) Investment in Syrup Stock ? Goodwill 15,000 Total Assets $464,000 $230,000 $605,000 Accounts
Payable $60,000 $32,000 $82,000 Wages Payable ? ? 78,000 Notes Payable 100,000 60,000 160,000 Common Stock 100,000 50,000 ? Retained Earnings 154,000 60,000 ? Noncontrolling Interest 31,000 Total Liabilities and Equities ? $230,000 $605,000 During 20X8, Pancake Company provided consulting services to Syrup Company and has not yet paid for them. There were no other receivables or payables between the companies at December 31, 20X8.Based on the information given, what is the amount of unpaid consulting services at December 31, 20X8, on work done by Pancake Company for Syrup Company? A. $15,000 B. $5,000 C. $0 D. $10,000
Which of the following is descriptive of a vision statement?
A) Inspirational B) Functional C) Supportive D) Critical
A closing argument is a statement by a party that results in a summary judgment in that party's favor
a. True b. False Indicate whether the statement is true or false
Which of the following tends to reduce understanding in cross-cultural negotiations?
A. Not overestimating one's familiarity with his or her counterpart's culture B. Not identifying a counterpart's home culture too quickly C. Being aware of the Western bias toward "doing" D. Accepting the tendency to formulate simple, consistent, stable images