Advanced Accounting (13th Edition)

Chapter 5

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The earnings of Company E either were overstated ... more

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The decision regarding the transfer price would ... more

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The frequency of intra entry is in a significant ... more

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The amount eliminated for sales is $100,000. ; The... more

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$56,250 ; Divide the sale value of the mechanism... more

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Unrealized gross profit/losses are created due to ... more

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Worksheet entries are required in different fiscal... more

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The intra-entity profits assist in computing the ... more

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The consolidated statements would remain unchanged... more

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$8,000 ; Add company P’s reported income, $110,000... more

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The profit is not eliminated permanently but ... more

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No corresponding entry is required in case of land... more

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The parent company records the land on the ... more

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In intra-entity transactions where the asset is ... more

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The excess depreciation is required to be adjusted... more

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As per FASB decision, revenues and COGS should be ... more

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The amount of $24,000 is calculated by using the ... more

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The subsidiary’s net income requires adjustment ... more

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The amount, $698,950, is calculated using an ... more

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Subtract the intra-company sales, $100,000, from ... more

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The amount, $720,000, is calculated using ... more

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There is a decrease of $8,000 in the net income in... more

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The amount, $62,400, is calculated using erroneous... more

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The amount, $500,000, is calculated using the ... more

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The provided amount, $140,000, is more than the ... more

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The provided amount, $30,000, is less than the ... more

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Subtract the sum of undervalued equipment, $25,000... more

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The provided amount, $735,000, is less than the ... more

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The provided amount, $240,000, is less than the ... more

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; Divide the unrecorded customer list, $78,000, ... more

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Global Explanation :   A journal entry initially ... more

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Consolidated sales: $1,008,000Consolidated COGS: $... more

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$1,150,000$675,600$210,000$27,000$985,000$415,500... more

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$1,150,000$675,600$210,000$29,820$985,000$414,000... more

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Global Explanation: Consolidated worksheet is a ... more

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Net Income attributable to non controlling ... more

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Global Explanation:The journal entry records the ... more

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