This question's due date has already passed. You may post a tutorial, but there's no guarantee that the original asker will purchase the tutorial. But other people might!

Question

$1.00 accounting

  • From Business: Accounting
  • Closed, but you can still post tutorials
  • Due on Apr. 02, 2012
  • Asked on Mar 30, 2012 at 2:34:07PM
Asked by :
clemour
clemour
Rating :No Rating
Questions Asked: 23
Tutorials Posted: 0
 
 
Q:

2.King Corporation owns 80 percent of Lee Corporation's common stock. During October, Lee sold merchandise to King for $100,000. At December 31, 50 percent of this merchandise remains in King's inventory. Gross profit percentages were 30 percent for King and 40 percent for Lee. The amount of unrealized intercompany profit in ending inventory at December 31 that should be eliminated in the consolidation process is

  • a.$40,000.
  • b.$20,000.
  • c.$16,000.
  • d.$15,000.(AICPA adapted)
 

Available Tutorials to this Question
 
$1.00
A+ Solution Here
  • This tutorial hasn't been purchased yet.
  • Posted on Mar 30, 2012 at 2:37:07PM
Posted by :
bulrich
bulrich Not confirmed
Rating (383):A-
Questions Asked: 8
Tutorials Posted: 1251,
Earned: $6,494.03
 
A:
Preview: ... r yo ...
The full tutorial is about 6 words long .
 
$1.00
100% correct answers,Surely get an A+ grade.
  • This tutorial hasn't been purchased yet.
  • Posted on Mar 30, 2012 at 2:38:21PM
Posted by :
A:
Preview: ... rrect ...
The full tutorial is about 6 words long .
 
$1.00
King Corporation owns 80 percent of Lee Corporations common stock
  • This tutorial hasn't been purchased yet.
  • Posted on Mar 30, 2012 at 6:16:42PM
Posted by :
ijomster
ijomster Not confirmed
Rating (243):A+
Questions Asked: 0
Tutorials Posted: 3449,
Blog Posts: 2,
Earned: $30,287.89
 
A:
Preview: ... ch case, please send me a message immediately.  Please wait for me to respond to your message before putting in a rating as I am not always online.  Any dissatisfact ...
The full tutorial is about 148 words long plus attachments.

attachmentlogo

Attachments:
King Corporation owns 80 percent of Lee Corporation's common stock.xlsx (9K)
King Corporation owns 80 percent of Lee Corporation's common stock.xls (15K)