Strayten Corp

question 122

Essay

Strayten Corp.is a wholly owned subsidiary of Quint Inc.Quint decided to use the initial value method to account for this investment.During 2018, Strayten sold Quint goods, which had cost $48,000.The selling price was $64,000.Quint still had one-eighth of the goods purchased from Strayten on hand at the end of 2018.
Required:
Prepare Consolidation Entry *G, which would have to be recorded at the end of 2019.

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Definitions:

Information

Data, facts, or details obtained through study, research, or instruction, which are used to increase knowledge or solve problems.

Business Operations

The day-to-day activities and processes that a business conducts to function effectively and generate revenue.

Résumé

A résumé is a formal document that a job applicant creates to itemize their qualifications for a position, including work experience, education, and skills.

Recent College Graduates

Individuals who have completed their undergraduate or graduate education and obtained a degree from a college or university in the recent past, typically within the last year.