Total inventory accounting
Not what you're looking for?
1. What should be the toal amount of inventory reported in the consolidated balancce sheet as of Dec. 31, 20X?
a) 360,000 b) 374,000 c) 375,200 d) 380,000
2. What amound of cost of goods sole should be reported in the 20X6 consolidate income statement?
a) 288,000 b) 294,000 c) 296,000 d) 360,000
3. What amount of interest income did Blackwood Enterprises record from its investment in Grange Corp. bonds during 20X6?
a) 7,400 b) 7,720 c) 9,000 d) 10,600
4. What amount of interest expense should be reported in the 20X6 consolidated income statement?
a) 24,000 b) 296,700 c) 32,100 d) 34,500
5. What is the unamortized balance of the purchase differential as of January 1, 20X6?
a) 19,200 b) 29,700 c) 32,100 d) 34,500
6. What amount of depreciation and amortization should be reported in the 20X6 consolidated income statement?
a) 77,600 b) 80,000 c) 82.400 D) 83,450
7. What amount of gain or loss on bond retirement should be included in the 20X6 consolidated income statement?
a) 2,400 b) 3,000 c) 4,000 d) 6,400
8. What amounf of income shold be assigned to the noncontrolling interest in the 20X6 consolidated income statement?
a) 6,720 b) 7,200 c) 8,000 d) 8,400
9. What amount should be assigned to the noncontrolling interest in the consolidated balnce wsheet as of Dec. 31, 20X6?
a) 63,200 b) 63,320 c) 63,800 d) 65,000
10) What amount of goodwill, if any, shouyld be reported in the consolidated balance sheet as of Dec. 31, 20X6?
a) 0 b) 3,000 c) 10,500 d) 27,000
See attached file for full problem description.
Purchase this Solution
Solution Summary
The accounting questions cover bond interest, income statements and inventories.
Purchase this Solution
Free BrainMass Quizzes
Basics of corporate finance
These questions will test you on your knowledge of finance.
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.