Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Company M sold to F stock for 500 with a margin of 200 . By the end of the year 70% of the debt with
Company M sold to F stock for 500 with a margin of 200 . By the end of the year 70% of the debt with Mis still pending. Assume that F have not been able to sell any of the stock to third parties and make the corresponding adjustment. Assume also a tax rate of 50%. F is a full controlled subsidiary. Credit 500 Revenues, Debit 500 purchases, Credit 200 Inventory, Debit 200 Inventory O Variation, Debit 150 Def. Tax Asset, Credit 150 Net Income, Credit 150 Income Tax, Debit 150 Net Income Debit 500 Revenues, Credit 500 purchases, Credit 200 Inventory, Debit 200 Inventory O Variation, Debit 100 Def. Tax Asset, Credit 100 Net Income, Credit 100 Income Tax, Debit 100 Net Income, Credit 350 Receivables, Debit 350 Payables Debit 500 Revenues, Credit 500 purchases, Credit 300 Inventory, Debit 300 Inventory O Variation, Debit 150 Def. Tax Asset, Credit 150 Net Income, Credit 150 Income Tax, Debit 150 Net Income, Credit 350 Receivable, Debit 350 Payables O None of the other answers are correct
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started