On December 31,2008,X Company Acquired Controlling Ownership of Y Company

question 30

Multiple Choice

On December 31,2008,X Company acquired controlling ownership of Y Company.A consolidated balance sheet was prepared immediately.Partial balance sheet data for the two companies and the consolidated entity at that date follow:
During 2008,X Company provided consulting services to Y Company and has not yet been paid for them.There were no other receivables or payables between the companies at December 31,2008.

-Based on the information given,what balance in accounts receivable did Y Company report at December 31,2008?

• A)$28,000
• B)$48,000
• C)$40,000
• D)$38,000

Identify different types of bone fractures and their characteristics.

Identify the signs and appropriate first aid response for choking.

Recognize the symptoms and emergency care for poisoning instances.

Understand the procedures for emergency situations, including falls and CPR.

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Definitions:

Variable Cost

Costs that vary directly with the level of production or service, such as materials and labor.

Traditional Format

A foundational approach to accounting and finance that emphasizes historical cost accounting, generally accepted accounting principles (GAAP), and the use of financial statements.

Contribution Format

The contribution format is an income statement presentation that separates fixed costs from variable costs, highlighting the contribution margin.

Cost Of Goods Sold

The direct costs attributable to the production of the products sold in a company, including both materials and labor costs.