Gentry inc. acquired 100% of gaspard farms on january 5, 2010. during 2010, gentry sold gaspard farms for $625,000 goods which had cost $425,000. gaspard farms still owned 12% of the goods at the end of the year. in 2011, gentry sold goods with a cost of $800,000 to gaspard farms for $1,000,000, and gaspard farms still owned 10% of the goods at year-end. for 2011, cost of goods sold was $5,400,000 for gentry and $1,200,000 for gaspard farms. what was consolidated cost of goods sold for 2011?

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Which of these is not a result of regular exercise

Paid-in-capital in excess of par represents the amount of proceeds a. from the original sale of common stock b. in excess of the par value from the original sale of common stock c. at the current market value of the common stock d. at the curent book value of the common stock