On January 1, 2011, Rocker Ltd

question 22

Multiple Choice

On January 1, 2011, Rocker Ltd. formed Smith Co., a 100% owned subsidiary. During 2014, Rocker sold Smith $100,000 in goods. The unrealized profit in Smith's inventories was $20,000 at December 31, 2013 and $25,000 at December 31, 2014. Ignoring income taxes, what adjustment should be made to the consolidated financial statements for the year ended December 31, 2014 to reflect the unrealized profit in Smith's ending inventory?

• A)Retained earnings at the end of 2014 will be decreased by $25,000.
• B)Inventory at December 31, 2014 will be increased by $25,000.
• C)Cost of goods sold for 2014 will be decreased by $25,000.
• D)Retained earnings at the end of 2014 will be decreased by $5,000.

Comprehend the significance and functioning of the headright system and its effect on colonial population dynamics.

Understand the original intentions and outcomes of English voyages, including those to Jamestown and Cape Cod.

Learn about the economic shifts in England that contributed to emigration and social changes.

Recognize the driving factors behind English territorial expansion and commercialism in the 1650s.

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Definitions:

Acute Pancreatitis

A sudden inflammation of the pancreas that causes severe abdominal pain and other symptoms, potentially life-threatening if not treated.

Hyperglycemia

A condition characterized by an excessively high level of glucose in the blood, commonly associated with diabetes.

Type 1 Diabetes

A chronic condition in which the pancreas produces little or no insulin, a hormone needed to allow sugar (glucose) to enter cells to produce energy.

Acidosis

A condition where there is too much acid in the body's fluids, which can be caused by various factors including kidney failure or respiratory issues.