Available Courses

ACC 407 Week 4 DQ 1 Measuring Cost of Goods Sold Complete Case C6-1

ACC 407 Week 4 DQ 1 Measuring Cost of Goods Sold Complete Case C6-1

This Tutorial was Purchased 0 Times and Rated No rating by Students like U.

  |  Write a review  |   View Reviews   |  
Price: $3.00 $2.00
 

ACC 407 Week 4 DQ 1 Measuring Cost of Goods Sold Complete Case C6-1

Case C6-1

  1. The rule 1 covers a part of elimination needed, it says in textbook “when there have been intercompany inventory transactions, eliminating entries are needed to remove the revenue and expenses related to the intercompany transfers recorded by the individual companies.” So, “the eliminations ensure only the cost of the inventory to the consolidated entity is included in the consolidated balance sheet when the inventory is still on hand and it charged to cost of goods sold in the period the inventory is resold to nonaffiliated.
  2. When intercompany sales include unrealized profits or losses, the worksheet eliminations needed for consolidation in the period of transfer must adjust accounts in both the consolidated income statement and balance sheet

Write a review

Order Id

Order Id will be kept Confidential
Your Name:


Your Review:
Rating:   A   B   C   D   F  

Enter the code in the box below: