Strickland Company Sells Inventory to Its Parent, Carter Company, at a Profit

question 10

Multiple Choice

Strickland Company sells inventory to its parent, Carter Company, at a profit during 2012. One-third of the inventory is sold by Carter in 2012.
In the consolidation worksheet for 2013, assuming Carter uses the initial value method of accounting for its investment in Strickland, which of the following choices would be a debit entry to eliminate unrealized intra-entity gross profit with regard to the 2012 intra-entity sales?

• A) Retained earnings.
• B) Cost of goods sold.
• C) Inventory.
• D) Investment in Strickland Company.
• E) Sales.

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Weight-Bearing Exercise

Physical activities that require one to support their own body weight, such as walking, running, or lifting weights, which help in strengthening bones and muscles.

Vitamin D

A fat-soluble vitamin that's critical for bone health and immune function, obtained through sun exposure, diet, and supplements.

Sodium Intake

The amount of sodium, a mineral essential for bodily functions, consumed through diet.

Body Mass Index

A numerical value derived from a person's weight and height, used to indicate if a person is underweight, normal weight, overweight, or obese.