[单选题] 提问人:匿名网友 提问时间:2021-08-24

Combined statements may be used to present the results of operations of:UnconsolidatedsubsidiariesCompanies undercommon management


A .Yes; Yes
B .No; No
C .No; Yes
D .Yes; No

提问人:匿名网友 提问时间:2021-08-24

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2 .Selected information from the separate and consolidated balance sheets and income statements of Pare, Inc. and its subsidiary, Shel Co., as of December 31, Year 1, and for the year then ended is as follows:PareShelConsolidatedBalance sheet accountsAccounts receivableUSDUSD52,000USDUSD38,000USDUSD78,000Inventory60,00050,000104,000Income statement accountsRevenues400,000280,000616,000Cost of goods sold300,000220,000462,000Gross profitUSD100,000USD60,000USD154,000Additional information: During Year 1, Pare sold goods to Shel at the same markup on cost that Pare uses for all sales.At December 31, Year 1, what was the amount of Shel's payable to Pare for intercompany sales?

A USD6,000 B USD58,000 C USD64,000 D USD12,000

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3 .Nolan owns 100% of the capital stock of both Twill Corp. and Webb Corp. Twill purchases merchandise inventory from Webb at 140% of Webb's cost. During Year 1, merchandise that cost Webb USD40,000 was sold to Twill. Twill sold all of this merchandise to unrelated customers for USD81,200 during Year 1. In preparing combined financial statements for Year 1, Nolan's bookkeeper disregarded the common ownership of Twill and Webb.What amount should be eliminated from cost of goods sold in the combined income statement for Year 1?

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