Jacoby Co Owned a Controlling Interest in Trimble Inc

question 90

Multiple Choice

Jacoby Co. owned a controlling interest in Trimble Inc. Jacoby reported sales of $510,000 during 2021 while Trimble reported $300,000. Inventory costing $27,000 was transferred from Trimble to Jacoby (upstream) during the year for $54,000. Of this amount, 30% was still in ending inventory at year's end. Total receivables on the consolidated balance sheet were $115,000 at the first of the year and $158,000 at year-end. No intra-entity debt existed at the beginning or ending of the year. Using the direct approach, what is the consolidated amount of cash collected by the business from its customers?

• A) $688,500.
• B) $713,000.
• C) $799,000.
• D) $810,000.
• E) $907,000.

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Definitions:

PLC System

A PLC system encompasses the hardware and software components of a Programmable Logic Controller, including the CPU, input/output modules, power supply, and the programming environment used to automate industrial and manufacturing processes.

Master Control Relay Instruction

An alternate definition for MCR Instructions, specifically highlighting its role in controlling the execution flow in PLC programs.

Disconnect Switch

A Disconnect Switch is an electrical switch designed to completely cut off electrical power from part of a circuit or the entire system for safety or maintenance purposes.

Motor Starter Seal-In Contact

A contact in an electric motor starter circuit that maintains the circuit closed, keeping the motor running after the start button is released.