Business, 13.11.2019 21:31 olivia0420

Clark company had the following transactions with affiliated parties during 20x2: sales of $60,000 to dean inc., with $20,000 gross profit. dean had $15,000 of this inventory on hand at year-end. clark owns a 15 percent interest in dean and does not exert significant influence. purchases of raw materials totaling $240,000 from kent corporation, a wholly owned subsidiary. kent’s gross profit on the sales was $48,000. clark had $60,000 of this inventory remaining on december 31, 20x2. before consolidation entries, clark had consolidated current assets of $320,000. what amount should clark report in its december 31, 20x2, consolidated balance sheet for current assets?
a. $320,000.
b. $317,000.
c. $308,000.
d. $303,000.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 10:00

What is the difference between an "i" statement and a "you" statement? a. the "i" statement is non-confrontational b. the "you" statement is non-confrontational c. the "i" statement is argumentative d. the "you" statement is neutral in tone select the best answer from the choices provided

Answers: 1

Answer

Business, 22.06.2019 10:30

6carla would like to buy a dress, a dresser for her bedroom, and a home theater system. she has one month's worth of living expenses in her emergency fund. carla decides to save for the home theater system. did carla make the right decision? why or why not? a. yes; her emergency fund is full and the other items will probably be less expensive. b. yes; she could save more for her emergency fund, but the home theater will be harder to save for. c. no; she should save more for her emergency fund because she has saved less than the recommended amount. d. no; she should have bought the dress and dresser first because she could afford them right away. reset next

Answers: 2

Answer

Business, 22.06.2019 15:30

Brenda wants a new car that will be dependable transportation and look good. she wants to satisfy both functional and psychological needs. true or false

Answers: 1

Answer

Business, 22.06.2019 19:40

The martinez legal firm (mlf) recently acquired a smaller competitor, miller and associates, which specializes in issues not previously covered by mlf, such as land use and intellectual property cases. given the increase in the firm's size and complexity, it is likely that its internal transaction costs willa. decrease. b. increase. c. become external transaction costs. d. be eliminated.

Answers: 3

Answer

You know the right answer?

Clark company had the following transactions with affiliated parties during 20x2: sales of $60,000...

Questions