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:

Behavioral Effect

The impact of actions or conditions on the behavior of individuals or groups.

Job Dissatisfaction

A negative emotional state resulting from aspects of one's job that do not meet the worker's values or expectations.

Intellectual Functioning

Describes the cognitive capabilities of an individual, including memory, reasoning, problem-solving, and decision-making skills.

Resentment

Resentment is a feeling of bitterness or indignation experienced as a result of unfair treatment or perceived wrongs.