During 20X1, Company P sold $40,000 of goods to subsidiary Company S at a profit of $10,000.

Question:

During 20X1, Company P sold $40,000 of goods to subsidiary Company S at a profit of

$10,000. One-fourth of the goods remain unsold at year-end. If there were no adjustments made on the consolidated worksheet, what would be incorrect on the consolidated income statement and balance sheet?

AppendixLO1

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

Step by Step Answer:

Answer rating: 100% (QA)

Answered By

Bree Normandin

Success in writing necessitates a commitment to grammatical excellence, a profound knack to pursue information, and a staunch adherence to deadlines, and the requirements of the individual publication. My background comprises writing research projects, research meta-analyses, literature reviews, white paper reports, multimedia projects, reports for peer-reviewed journals, among others. I work efficiently, with ease and deliver high-quality outputs within the stipulated deadline. I am proficient in APA, MLA, and Harvard referencing styles. I have good taste in writing and reading. I understand that this is a long standing and coupled with excellent research skills, analysis, well-articulated expressions, teamwork, availability all summed up by patience and passion. I put primacy on client satisfaction to gain loyalty, and trust for future projects. As a detail-oriented researcher with extensive experience surpassing eight years crafting high-quality custom written essays and numerous academic publications, I am confident that I could considerably exceed your expectations for the role of a freelance academic writer.

5.00+ 7+ Reviews 21+ Question Solved

Related Book For book-img-for-question