Explain why unrealised profits on inventory purchased from another member of the group is added to the

Question:

Explain why unrealised profits on inventory purchased from another member of the group is added to the cost of sales when it is not a cost.

(appendix)

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting And Reporting

ISBN: 9780273778172

16th Edition

Authors: Mr Barry Elliott, Jamie Elliott

See More Books

Question Posted: Jun 12, 2024 10:08 AM

See More Questions

Explain why unrealised profits on inventory purchased from another member of the group is added to the cost of sales when it is not a cost.
The Brown-Forman Cooperage in Louisville Kentucky (USA) supplies flame-charred white-oak barrels for the aging processes of various bourbon and whiskey products produced under the Brown-Forman...
Hi I have homework from Fundamentals of Business Finance. Could you please help me to complete the Excel Answer form. Thanks TEAM LEADER NAME: TUTOR NAME: TUTORIAL DAY AND TIME: Year 0 Year 1 Year 2...
You are to show the journal entries necessary to record the following items which occured in 2012: (a) May 1 Bought a van on credit from Deedon Garage for 6,000. (b) May 3 A debt of 100 owing from P....
Emerson developed a new style of camping trailer. He is considering a licensing agreement with Easy-Tow, who will manufacture the new trailer. They are propos- ing to pay him $30 000 now, and $15 000...
Find at least three alternatives to Google Maps in AI technology for transportation and compare their features.
A product passes through three processes. The following data relate to the three processes during September 1998: Total Process I Process II Process III Materials (Rs) 5,625 2,600 2,000 1,025 Labour...
In the project environment, cause-and-effect relationships are almost always readily apparent. Good project management will examine the effect in order to better understand the cause and possibly...
Assume the correct amount of liquidation loss allocated is R 5 5 0 0 0 to Jackie. Which one of the following alternatives represents the correct amount that must be paid to Jackie on liquidation of...
Explain why differences between the opening and closing statements of financial position are adjusted when preparing a consolidated statement of cash flows when a subsidiary is acquired. (appendix)
Explain how the impairment of goodwill is dealt with on consolidation. (appendix)
What (if any) specific attitudes, values, beliefs, or behaviors of yours do you think could be changed from an ethics course? Explain.
At the Business Level there are a couple main strategies that companies use- Cost Leadership and Differentiation. What is the difference between them? Share some examples of companies or specific...
https://youtu.be/c_Eutci7ack After watching the video, what are your thoughts on Power? Would you want to have this Power ? Why would you not want this Power? If you are a manager or want to be a...
Find anti derivative of ( 2 t - 4 + 3 ^ ( 1 / 2 ) ) / t ^ ( 1 / 2 )
How Adidas is using creative narratives to build brand equity Adidas' outdoor division is drawing on the expertise of its wider athletic business while at the same time flexing its creative muscle to...
May I have a word" Alysha Stark popped her head in at the corner office of the Managing Director Mike O' Connor. It's early on a Monday morning. When Alysha, his star Director, starts something this...
Find the x- and y-components of each resultant vector R and graph the resultant vectorR. Vector x-component y-component 2 +13 + 1 -4 +3
Catherine (aged 42) and Johnson (aged 45) have been married for 12 years. Johnson is a project manager of an event company at a monthly salary of $55,000 with an additional one-month salary of...
Break-Even Sales and Sales to Realize Income from Operations For the current year ending October 31, Yentling Company expects fixed costs of $537,600, a unit variable cost of $50, and a unit selling...
You buy a stock for $35 per share. One year later you receive a dividend of $3.50 per share and sell the stock for $30 per share. What is your total rate of return on this investment? What is your...
Filippucci Company used a budgeted indirect-cost rate for its manufacturing operations, the amount allocated ($200,000) is different from the actual amount incurred ($225,000). Ending balances in the...

Explain why unrealised profits on inventory purchased from another member of the group is added to the

Question:

Step by Step Answer:

Financial Accounting And Reporting

Students also viewed these Business questions