Please mention the question number. These are separate questions

LO $6-1$ Q$6-1$

LO $6-2$ Q$6-2$

P$6-17$

LO $6-1$ Q$6-1$ Why must inventory transfers to related companies be eliminated in preparing

consolidated finan cial statements?

LO $6-2$ Q$6-2$ Why is there a need for a consolidation entry when an intercompany inventory transfer

is made at cost$?$

P$6-17$ Consolidated Income Statement Data

Sweeny Corporation owns $60$ percent of Bitner Company's shares. Partial $20$X$2$ financial data for

the companies and consolidated entity were as follows:

On January $1,20$X$2,$ Sweeny's inventory contained items purchased from Bitner for $$75,000.$ The

cost of the units to Bitner was $$50,000.$ All intercorporate sales during $202$ were made by Bitner

to Sweeny.

Required

a$.$ What amount of intercorporate sales occurred in $202?$

b$.$ How much unrealized intercompany profit existed on January $1,20$X$2?$ On December $31,$

$20$X$2?$

c$.$ Give the worksheet consolidation entries relating to inventory and cost of goods sold needed to

prepare consolidated financial statements for $20x2.$

d$.$ If Bitner reports net income of $$90,000$ for $202,$ what amount of income is assigned to the

noncontrolling interest in the $20x2$ consolidated income statement?