Gentry Inc

question 62

Multiple Choice

Gentry Inc.acquired 100% of Gaspard Farms on January 5, 2017.During 2017, Gentry sold Gaspard Farms $625,000 of goods, which had cost $425,000.Gaspard Farms still owned 12% of the goods at the end of the year.In 2018, Gentry sold goods with a cost of $800,000 to Gaspard Farms for $1,000,000, and Gaspard Farms still owned 10% of the goods at year-end.For 2018, the cost of goods sold totaled $5,400,000 for Gentry, and $1,200,000 for Gaspard Farms.What was consolidated cost of goods sold for 2018?

• A) $6,600,000.
• B) $6,604,000.
• C) $5,620,000.
• D) $5,596,000.
• E) $5,625,000.

Understand the basic principles of water and nutrient transport mechanisms in plants.

Identify the key processes involved in the movement of water, nutrients, and sugars in plants.

Explain the concepts of osmosis, diffusion, and translocation as they relate to plant transport systems.

Describe how pressure gradients and turgor pressure influence plant water movement.

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Definitions:

Unearned Revenue

Amounts received for goods or services that have not yet been provided, recorded as a liability until the service or product is delivered.

Liability

An obligation or debt that a company must pay in the future, arising from past transactions or events.

Credit

An accounting entry that increases a liability or equity account, or decreases an asset or expense account.

Prepaid Rent Payment

An advance payment of rent that is made before it is due, typically recorded as an asset on a balance sheet until utilized.