Anderson Company, a 90% Owned Subsidiary of Philbin Corporation, Transfers

question 124

Multiple Choice

Anderson Company, a 90% owned subsidiary of Philbin Corporation, transfers inventory to Philbin at a 25% gross profit rate. The following data are available pertaining specifically to Philbin's intra-entity purchases from Anderson. Anderson was acquired on January 1, 2020. Assume the equity method is used. The following data are available pertaining to Anderson's income and dividends. For consolidation purposes, what amount would be debited to cost of goods sold for the 2022 consolidation worksheet with regard to the unrecognized intra-entity gross profit remaining in ending inventory with respect to the 2022 intra-entity transfer of merchandise?

• A) $600.
• B) $750.
• C) $3,760.
• D) $3,000.
• E) $675.

Understand the dynamics and consequences of one-wheel spinouts in tandem drive tractors.

Examine the differences in gear types, their diameters, teeth size, and torque capacities.

Comprehend the torque distribution mechanics in differential systems.

Recognize the legal weight limits for semi-trailers across different jurisdictions.

---

Definitions:

Capitalism

An economic system where trade, industries, and the means of production are largely or entirely privately owned and operated for profit, characterized by competitive markets, private property, and capital accumulation.

Behaviorism

A theory of learning based on the idea that all behaviors are acquired through conditioning, emphasizing the role of external stimuli in shaping behavior, without regard to thoughts or feelings.

B.F. Skinner

An influential American psychologist known for his work in behaviorism and for developing the theory of operant conditioning.

John B. Watson

An American psychologist who established the psychological school of behaviorism, asserting that behavior can be studied as a simple stimulus and response.