Concept of expanded affiliated group, Accounting Basics

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Concept of expanded affiliated group

Boasso Corporation manufactures an exercise machine at a cost of $800 and sells the machine to Kershaw Corporation for $1000 in 2009. Kershaw incurs TV advertising expenses of $300 and sells the machine by phone order for $1600. If Boasso and Kershaw corporations are members of an expanded affiliated group (EAG), their DPGR is:

a. $30.

b. $500.

c. $1,000.

d. $1,600.

e. None of the above.

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Accounting Basics: Concept of expanded affiliated group

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Accounting Basics: Concept of expanded affiliated group

Reference No:- TGS079276

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Recent Questions Asked Accounting Basics

Q : Consolidated balance sheet made immediate after combination

Q : How much total combined income tax pay in the current year

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Accounting Basics: Concept of expanded affiliated group

Reference No:- TGS079276

Recent Questions Asked Accounting Basics

Q : Consolidated balance sheet made immediate after combination

Q : How much total combined income tax pay in the current year

Q : Loss from the imported dinnerware

Q : Profit from the imported merchandise

Q : Concept of expanded affiliated group

Q : What is total shareholders equity at the end

Q : Amount of dividends common shareholders will receive

Q : What is total paid-in capital at the end

Q : Paid-in capital-excess of par increase for the transaction

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