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King Corp.owns 85% of James Co.King uses the equity method to account for its investments.During 2018, King sells inventory to James for $500,000.The inventory originally cost King $420,000.At 12/31/2018, 25% of the goods were still in James' inventory.
Required:
Prepare the Consolidation Entry TI and Consolidation Entry G for the consolidation worksheet.
Arbitrary Value
A value or figures assigned based on random choice or personal whim, rather than any reason or system.
Upper Limit
The maximum level or point that is considered acceptable or achievable.
Absolute Threshold
The minimum intensity of a stimulus that can be detected by the senses at least 50% of the time.
Difference Threshold
The smallest amount by which a stimulus must be changed in order to produce a noticeable variation in sensory experience.
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