Fundamentals of Advanced Accounting
6th Edition
ISBN: 9780077862237
Author: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 5, Problem 6P
Use the same information as in problem (5) except assume that the transfers were from Bottom Company to Top Company. What are the consolidated sales and cost of goods sold?
- a. $1,000,000 and $720,000
- b. $1,000,000 and $755,000
- c. $1,000,000 and $696,000
- d. $970,000 and $712,000
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Students have asked these similar questions
How much is the sales of branch to be included in the combined financial statements?
a. 2,333,333
b. 2,800,000
c. 2,240,000
d. 0
How much is the cost of goods sold of the branch to be included in the combined financial statements?
a. 1,800,000
b. 900,000
c. 1,200,000
d. 1,500,000
How much is the cost of goods sold of the branch to be included in thecombined financial statements?
A. 900,000B. 1,500,000C. 1,200,000D. 1,800,000
The independent cases are listed below that includes all items relevant to operating activities:
Case A
Case B
Case C
Sales revenue
$
61,000
$
51,000
$
102,000
Cost of goods sold
33,000
24,000
73,300
Depreciation expense
11,400
1,600
27,400
Salaries and wages expense
4,600
12,600
7,600
Net income
12,000
12,800
(6,300
)
Accounts receivable increase (decrease)
(1,200
)
3,600
2,600
Inventory increase (decrease)
1,600
0
(2,600
)
Accounts payable increase (decrease)
0
2,100
(1,200
)
Salaries and wages payable increase (decrease)
1,300
(1,600
)
1,200
Compute cash flows from operating activities using the direct method. (Amounts to be deducted should be indicated with a minus sign.)
THANK YOU!
Chapter 5 Solutions
Fundamentals of Advanced Accounting
Ch. 5 - Prob. 1QCh. 5 - Prob. 2QCh. 5 - Prob. 3QCh. 5 - Prob. 4QCh. 5 - James, Inc., sells inventory to Matthews Company,...Ch. 5 - Prob. 6QCh. 5 - Prob. 7QCh. 5 - Prob. 8QCh. 5 - Prob. 9QCh. 5 - Prob. 10Q
Ch. 5 - Prob. 11QCh. 5 - Prob. 12QCh. 5 - Prob. 13QCh. 5 - Prob. 1PCh. 5 - Prob. 2PCh. 5 - Prob. 3PCh. 5 - Prob. 4PCh. 5 - Prob. 5PCh. 5 - Use the same information as in problem (5) except...Ch. 5 - Prob. 7PCh. 5 - Prob. 8PCh. 5 - Prob. 9PCh. 5 - Prob. 10PCh. 5 - What is the total of consolidated cost of goods...Ch. 5 - Prob. 12PCh. 5 - Prob. 13PCh. 5 - Prob. 14PCh. 5 - What is the consolidated total for inventory at...Ch. 5 - Prob. 16PCh. 5 - Prob. 17PCh. 5 - Prob. 18PCh. 5 - Prob. 19PCh. 5 - Prob. 20PCh. 5 - Prob. 21PCh. 5 - Prob. 22PCh. 5 - Prob. 23PCh. 5 - Prob. 24PCh. 5 - Prob. 25PCh. 5 - Prob. 26PCh. 5 - Prob. 27PCh. 5 - Prob. 28PCh. 5 - Prob. 29PCh. 5 - Prob. 30PCh. 5 - Prob. 31PCh. 5 - Prob. 32PCh. 5 - Prob. 33PCh. 5 - Prob. 34PCh. 5 - Prob. 35PCh. 5 - Prob. 36PCh. 5 - Prob. 1DYSCh. 5 - Prob. 2DYS
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