Premium Essay

Cpaa

In:

Submitted By StephanieChan
Words 606
Pages 3
Inventory sold
Sub sold inventory to Parent at $20K, sub COS$10K A 1 | 2003 | | | | | | | | Parent | Sub | Dr | Cr | Consolidation | | Sale | | 20,000.00 | | | | | COS | | 10,000.00 | | | | | Gross Profit | | 10,000.00 | 10,000.00 | | | | | | | | | | | Inventory | 20,000.00 | | | 10,000.00 | 10,000.00 | | | | | | | | a 2 | Parent sold half of inventory b4 June 03 | | | | | Parent | Sub | Dr | Cr | Consolidation | | Sale | 16,000.00 | 20,000.00 | 20,000.00 | | 16,000.00 | | COS | 10,000.00 | 10,000.00 | | 15,000.00 | 5,000.00 | | Gross Profit | 6,000.00 | 10,000.00 | | | 11,000.00 | | | | | | | | | Inventory | 10,000.00 | | | 5,000.00 | 5,000.00 | | | | | | | | a3 | based on a2, Parent sold all inventory, 2004 | | | | | Parent | Sub | Dr | Cr | Consolidation | | Sale | 16,000.00 | | - | | 16,000.00 | | COS | 10,000.00 | | | 5,000.00 | 5,000.00 | | Gross Profit | 6,000.00 | - | | | 11,000.00 | | | | | | | | | Open Retained earning | 6,000.00 | 10,000.00 | 5,000.00 | | 11,000.00 | | Inventory | | | | | | | Close RE | 12,000.00 | 10,000.00 | 5,000.00 | - | 22,000.00 |

B intra-group dividend payable/receivable should be eliminated.

Q6.11 b-Sold half | Parent | Sub | Dr | Cr | Consolidation | Sale | | 25,000.00 | | | 25,000.00 | COS | | -20,000.00 | | 5,000.00 | -15,000.00 | Gross Profit | | 5,000.00 | - | 5,000.00 | 10,000.00 | | | | | | | Profit b4 tax | | 5,000.00 | | | 10,000.00 | Income tax expense | | -1,500.00 |

Similar Documents

Free Essay

Kkkkk

...Harsha Bhogle From Wikipedia, the free encyclopedia Jump to: navigation, search   | This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (April 2012) | Harsha Bhogle | Harsha Bhogle walks for Manish Malhotra & Shaina NC's show for CPAA | Born | (1961-07-19) 19 July 1961 (age 51) Hyderabad, India | Occupation | TV Commentator/Presenter | Spouse | Anita | Children | Chinmay and Satchit | Harsha Bhogle (born 19 July 1961) is an Indian cricket commentator and journalist. He was born in a Marathi speaking family in Hyderabad. Bhogle has recently become a freelance TV presenter. Contents [hide]  * 1 Early life * 2 Career * 3 Personality * 4 Books * 5 Personal life * 6 References * 7 External links | [edit] Early life Harsha Bhogle is the son of A. D. Bhogle, a professor of French, and Shalini Bhogle, a professor of psychology. He went to Hyderabad Public School, then studied chemical engineering at Osmania University in Hyderabad. He did his post graduate program PGPM at Indian Institute of Management Ahmedabad. After post graduation, he joined an advertising agency and worked there for two years before moving on to another two year stint in a sports management company. [edit] Career Bhogle began his career as a commentator at the age of 19 with All India Radio, while living in Hyderabad. In 1991-92, he became...

Words: 858 - Pages: 4

Free Essay

Liebeck V. Mcdonald’s and Pearson V. Custom Cleaners Legal Case Analysis

...Liebeck v. McDonald’s and Pearson v. Custom Cleaners Legal Case Analysis AMBA 610 9043 University of Maryland University College Introduction Frivolous lawsuits can be a determent to those who are really seeking justice through the court system. Lawsuits that are frivolous in nature are filed in the court systems that lack legal merit (Frivolous Lawsuit Law & Legal Definition, 2015). Plaintiffs and attorneys who decide to partake in meaningless claims against other parties can anger society by wasting tax payer’s money on cases that are filed and argued with loop holes in litigation (Frivolous Lawsuit Law & Legal Definition, 2015). Evaluating the product and service liability laws will give insight into the two cases that will be discussed in this paper. The two cases covers how product liability effects the consumer and company owners of each industry of businesses. Cases that are brought to courts for product liability is always initiated by the plaintiff who has to prove if the defendant is liable for alleged action claims (Jones, 2015). Two cases that have made an impact on the pursuit of filing frivolous lawsuits is the Liebeck v. McDonald’s and Pearson v. Custom Cleaners case, which will be discussed in further detail throughout this paper. If cases set precedence’s in the court systems, then these two cases show how people can obtain or attempt to collect monies from others that lacks in importance to bringing legal justice per society standards.  Case...

Words: 3359 - Pages: 14

Free Essay

Case Stury

...SETUP.EXE  Civil disobedience has long been an integral part of the democratic process in the United  States. Those dissenters in Boston who disrupted trade in 1773 as a protest against unfair laws  and business practices could not have imagined the modern­day equivalent: computer  "hacktivists" (hacker + activist) leveraging exploits against digital networks to accomplish more  or less the same thing. This case study explores the ways in which the general public, news  media, lawmakers, and law enforcement have reacted to the more contentious hacktivist  incidents that have transpired in the United States since 2009.   The impact of these attacks has ranged from minor to catastrophic, and the most clever  perpetrators have been able to evade apprehension. In response, the United States judicial system  has strategically given severe punishments to the few hacktivists it can manage to catch. As other  forms of disruptive activism are being punished with slaps on the wrist, these hacktivists and  their allies are pleading their case to the public that these incommensurate punishments are cause  for concern.     Command Prompt  Through a discussion about the facts and the positions of the actors involved with regard  to hacktivism, it will become clear that the lack of a plain and fair legal doctrine is indeed to  blame for the pervasive confusion among plaintiffs and defendants alike. The goal of this study  is to show just that: to highlight the ambiguity of the law through examples...

Words: 4098 - Pages: 17

Premium Essay

Cobit 4

...4.1 Excerpt Executive Summary Framework COBIT 4.1 The IT Governance Institute® The IT Governance Institute (ITGITM) (www.itgi.org) was established in 1998 to advance international thinking and standards in directing and controlling an enterprise’s information technology. Effective IT governance helps ensure that IT supports business goals, optimises business investment in IT, and appropriately manages IT-related risks and opportunities. ITGI offers original research, electronic resources and case studies to assist enterprise leaders and boards of directors in their IT governance responsibilities. Disclaimer ITGI (the “Owner”) has designed and created this publication, titled COBIT® 4.1 (the “Work”), primarily as an educational resource for chief information officers (CIOs), senior management, IT management and control professionals. The Owner makes no claim that use of any of the Work will assure a successful outcome. The Work should not be considered inclusive of any proper information, procedures and tests or exclusive of other information, procedures and tests that are reasonably directed to obtaining the same results. In determining the propriety of any specific information, procedure or test, CIOs, senior management, IT management and control professionals should apply their own professional judgement to the specific circumstances presented by the particular systems or IT environment. Disclosure © 1996-2007 IT Governance Institute. All rights reserved. No part of...

Words: 14485 - Pages: 58

Premium Essay

It Systems Technician

...4.1 Framework Control Objectives Management Guidelines Maturity Models COBIT 4.1 The IT Governance Institute® The IT Governance Institute (ITGITM) (www.itgi.org) was established in 1998 to advance international thinking and standards in directing and controlling an enterprise’s information technology. Effective IT governance helps ensure that IT supports business goals, optimises business investment in IT, and appropriately manages IT-related risks and opportunities. ITGI offers original research, electronic resources and case studies to assist enterprise leaders and boards of directors in their IT governance responsibilities. Disclaimer ITGI (the “Owner”) has designed and created this publication, titled COBIT® 4.1 (the “Work”), primarily as an educational resource for chief information officers (CIOs), senior management, IT management and control professionals. The Owner makes no claim that use of any of the Work will assure a successful outcome. The Work should not be considered inclusive of any proper information, procedures and tests or exclusive of other information, procedures and tests that are reasonably directed to obtaining the same results. In determining the propriety of any specific information, procedure or test, CIOs, senior management, IT management and control professionals should apply their own professional judgement to the specific circumstances presented by the particular systems or IT environment. Disclosure Copyright © 2007 by the IT Governance...

Words: 85189 - Pages: 341

Premium Essay

Cobit 4.1

...4.1 Framework Control Objectives Management Guidelines Maturity Models COBIT 4.1 The IT Governance Institute® The IT Governance Institute (ITGITM) (www.itgi.org) was established in 1998 to advance international thinking and standards in directing and controlling an enterprise’s information technology. Effective IT governance helps ensure that IT supports business goals, optimises business investment in IT, and appropriately manages IT-related risks and opportunities. ITGI offers original research, electronic resources and case studies to assist enterprise leaders and boards of directors in their IT governance responsibilities. Disclaimer ITGI (the “Owner”) has designed and created this publication, titled COBIT® 4.1 (the “Work”), primarily as an educational resource for chief information officers (CIOs), senior management, IT management and control professionals. The Owner makes no claim that use of any of the Work will assure a successful outcome. The Work should not be considered inclusive of any proper information, procedures and tests or exclusive of other information, procedures and tests that are reasonably directed to obtaining the same results. In determining the propriety of any specific information, procedure or test, CIOs, senior management, IT management and control professionals should apply their own professional judgement to the specific circumstances presented by the particular systems or IT environment. Disclosure Copyright © 2007 by...

Words: 84132 - Pages: 337