Prince Corp

question 2

Multiple Choice

Prince Corp.owned 80% of Kile Corp.'s common stock.During October 2009,Kile sold merchandise to Prince for $140,000.At December 31,2009,50% of this merchandise remained in Prince's inventory.For 2009,gross profit percentages were 30% of sales for Prince and 40% of sales for Kile.The amount of unrealized intercompany profit in ending inventory at December 31,2009 that should be eliminated in the consolidation process is

• A)$28,000.
• B)$56,000.
• C)$22,400.
• D)$21,000.
• E)$42,000.

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Definitions:

Rubella

A contagious viral infection best known for its distinctive red rash, also called German measles, which is particularly dangerous for pregnant women.

First Trimester

The initial stage of pregnancy, encompassing the first twelve weeks, critical for the development of the embryo into a fetus.

Plasticity

The brain's ability to modify and adjust its structure and functions based on new experiences, education, or after sustaining damage.

Resilience

The ability to withstand or recover quickly from difficult conditions or to successfully adapt to adversity.