Question
On January 1, 2013, Piranto acquires 90 percent of Slintons outstanding shares. Financial information for these two companies for the years of 2013 and 2014
On January 1, 2013, Piranto acquires 90 percent of Slintons outstanding shares. Financial information for these two companies for the years of 2013 and 2014 follows: Note: Parentheses indicate a credit balance.
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| 2013 |
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| 2014 |
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| Piranto Company: |
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| Sales | $ | (683,000 | ) | $ | (1,062,000 | ) | |||||||||
| Operating expenses |
| 446,000 |
|
| 594,000 |
| |||||||||
| Unrealized gross profits as of end of year (included in above figures) |
| (169,000 | ) |
| (237,000 | ) | |||||||||
| Dividend incomeSlinton Company |
| (9,000 | ) |
| (40,500 | ) | |||||||||
| Slinton Company: |
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|
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| Sales |
| (293,000 | ) |
| (359,000 | ) | |||||||||
| Operating expenses |
| 124,000 |
|
| 194,000 |
| |||||||||
| Dividends paid |
| (10,000 | ) |
| (45,000 | ) | |||||||||
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Linking Auditing And Meta Evaluation Enhancing Quality In Applied Research
Authors: Thomas A. Schwandt, Edward S. Halpern
1st Edition
0803929684, 978-0803929685
