Frazer corporation purchased 60 percent of minnow corporation's voting common stock on january 1, 20x1, at underlying book value. on january 1, 20x5, frazer received $210,000 from minnow for a truck frazer had purchased on january 1, 20x2, for $300,000. the truck is expected to have a 10-year useful life and no salvage value. both companies depreciate trucks on a straight-line basis.

required

a. give the workpaper eliminating entry or entries needed at december 31, 20x5, to remove the effects of the intercompany sale.

b. give the workpaper eliminating entry or entries needed at december 31, 20x6, to remove the effects of the intercompany sale.

Social computing forces companies to deal with customers as opposed to

Consider two similar industries, portal crane manufacturing (pcm) and forklift manufacturing (flm). the pcm industry has exactly three incumbents with annual sales of $800 million, $200 million and $100 million, respectively. the flm industry has also exactly three incumbents, with annual sales of $500 million, $450 million and $400 million, respectively. which industry is more likely to experience a higher level of rivalry?

Which of the following statements is not correct? the stock of publicly owned companies must generally be registered with and reported to a regulatory agency such as the sec. when stock in a closely held corporation is offered to the public for the first time, the transaction is called "going public, or an ipo," and the market for such stock is called the new issue or ipo market. "going public" establishes a firm's true intrinsic value and ensures that a liquid market will always exist for the firm's shares. if you wanted to know what rate of return stocks have provided in the past, you could examine data on the dow jones industrial index, the s& p 500 index, or the nasdaq index.