Yoderly Co

question 95

Essay

Yoderly Co., a wholly owned subsidiary of Nelson Corp., sold goods to Nelson near the end of 2013. The goods had cost Yoderly $105,000 and the selling price was $140,000. Nelson had not sold any of the goods by the end of the year.
Required:
Prepare Consolidation Entry TI and Consolidation Entry G that are required for 2013.

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Definitions:

Post Hoc, Ergo Propter Hoc

A logical fallacy where it is assumed that because one event followed another, the first event was the cause of the second.

Fallacy Of Division

The erroneous assumption that what is true of a whole necessarily applies to its individual parts or members.

Post Hoc, Ergo Propter Hoc

A logical fallacy that assumes if one event occurs after another, the first event must have caused the second.

Generalizations

Broad statements or concepts that apply to multiple instances, often used to simplify complex ideas.