When there are intercompany sales of inventory during the ye…

When there are intercompany sales of inventory during the year and a three-part consolidation worksheet is prepared, consolidation entries related to the intercompany sales: Always are needed. Are not needed if the entire inventory is resold to unrelated parties prior to the end of the year.

When one company purchases the debt of an affiliate from an…

When one company purchases the debt of an affiliate from an unrelated party, a gain or loss on the constructive retirement of debt is recognized by which of the following? Gain or Loss Choices Option IssuingAffiliate PurchasingAffiliate ConsolidatedEntity A. Yes Yes No B. Yes Yes Yes C. No No No D. No No Yes  

Penn Co. purchased land on January 1, 20X6, for $50,000. On…

Penn Co. purchased land on January 1, 20X6, for $50,000. On July 15, 20X8, it sold the land to its subsidiary, Senn Co. for $80,000. Penn Co. owns 70 percent of Senn’s voting shares. Based on this information, what will be the worksheet consolidating entry to remove the effects of the intercompany sale of land in preparing the consolidated financial statements for 20X8? Consolidating Entry Choices Option Accounts and Explanation Debit Credit A. Gain on Sale of Land 30,000      Land 30,000 B. Gain on Sale of Land 21,000      Land 21,000 C. Land 21,000      Gain on Sale of Land 21,000 D. Land 30,000      Gain on Sale of Land 30,000  

Dosage Calculation Client: 2-year old toddler weighing 21 po…

Dosage Calculation Client: 2-year old toddler weighing 21 pounds Order: Prednisone 150 mg PO BID Safe dose range: 0.5-40 mg/kg in a 24 hour period Medication concentration on hand: 5 mg/mL   A. What is the 24-hour safe dose range of Prednisone for this client? B. How many mL’s will each dose be? Round to the nearest tenth for the final answer.