What the intercompany profit, Accounting Basics

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What the intercompany profit

During Year 1, Abaco Co., the 100% owned subsidiary of Walker Inc., sold merchandise to Walker at a 25% markup over its cost. Intercompany sales to Walker totaled $800,000 during Year 1. On December 31, Year 1, Walker held $200,000 of the inventory purchased from Abaco in its ending inventory. In Walker's December 31, Year 1 elimination of the intercompany sales transaction, what the intercompany profit that must be eliminated from ending inventory is:

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Accounting Basics: What the intercompany profit

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Accounting Basics: What the intercompany profit

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Recent Questions Asked Accounting Basics

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Q : Calculate mfe-mad for exponential smoothing forecast model

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What the intercompany profit

Reference No:- TGS076882

Recent Questions Asked Accounting Basics

Q : Training objectives and smart goals paper

Q : Calculate mfe-mad for exponential smoothing forecast model

Q : How are start-upand organization expenses handled

Q : Company introduction-market segmentation

Q : What the intercompany profit

Q : Company shows inventory problem

Q : Purpose of the discovery phase

Q : When to assign to one of the ma-s in the office

Q : Subsidiary would report goodwill in what the amount of

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