Push Company owns 60% of Shove Company's outstanding common stock. Intra-entity sales are as follows:YearInventoryCostTransferPriceInventory Remaining at Year End(at transfer price)20X1$80,000 $100,000 $30,000 20X2$110,000 $130,000 $26,000 Assume Shove sold the inventory to Push. Using the fully adjusted equity method, what journal entry would be recorded by Push to recognize the realization of the 20X1 deferred intercompany profit and to defer the 20X2 unrealized gross profit on inventory sales to Shove? A.Income from Shove Company2,000 Investment in Shove Company 2,000B.Income from Shove Company1,200 Investment in Shove Company 1,200C.Investment in Shove Company2,000 Income from Shove Company 2,000D.Investment in Shove Company1,200 Income from Shove Company 1,200
A. Option A
B. Option B
C. Option C
D. Option D
Answer: D
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Whenever you observe or give meaning to behavior, ______ is taking place.
Fill in the blank(s) with the appropriate word(s).
To gain assurance that all inventory items in an entity's inventory listing schedule are valid, an auditor most likely would trace:
A. inventory tags noted during the auditor's observation to items listed in receiving reports and vendors' invoices. B. items listed in the inventory listing schedule to inventory tags and the count sheets. C. inventory tags noted during the auditor's observation to items listed in the inventory listing schedule. D. items listed in receiving reports and vendors' invoices to the inventory listing schedule.
________ is a new process where a company takes a product or service that is widely marketed and offered in many different configurations and develops a system for customizing it to each customer's specification
A) Direct marketing B) Mass customization C) Niche marketing D) Differential marketing
________ is a rule that limits a defendant's accountability to his or her equivalent degree of fault
A) Privity of contract B) Due diligence defense C) Proportionate liability D) Ultramares doctrine