Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. pian, inc. owns 80% of sior, inc. during the year

Pian, Inc. owns 80% of Sior, Inc. During the year just ended, Pian sold goods...

50.1K

Verified Solution

Question

Accounting

Pian, Inc. owns 80% of Sior, Inc. During the year just ended, Pian sold goods with a 40% gross profit to Sior. Sior sold all of these goods during the year. In its consolidated financial statements for the year, how should the summation of Pian and Sior income statement items be adjusted?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Fibrin

Medical Sciences
Q

Describe the physiology role of the autonomic division and its branches Compare and contrast the anatomy and...

Medical Sciences
Q

21 The refractive index of a thin film is 1 42 If it is illuminated...

Physics
Q

A rectangular prism is shown 18 in 12 in 24 in What is the surface...

Geometry
Q

Rearrange to isolate variable c in the following equation and choose the correct answer b...

Basic Math
Q

2 The college bookstore tells prospective students that the average cost of its textbooks is...

Statistics
Q

The accompanying table lists the ages of acting award winners matched by the years in...

Statistics
Q

Let a represent the first term of a geometric series the common ratio and in...

Algebra
Q

How much money should be invested in an account that earns 9% interest, compounded monthly,...

Accounting
Q

The Churchill Corporation uses a periodic inventory system and the LIFO inventory cost method for...

Accounting
Q

I always leave a like for CORRECT answers! Thanks!! Assume Highline Company has...

Finance
Q

can you check, my answer is correct or no ? 23...

Finance