In Consolidation at December 31,2010,what Net Adjustment Is Necessary for Hogan's

question 47

Multiple Choice

In consolidation at December 31,2010,what net adjustment is necessary for Hogan's Patent account?

• A)$4,200
• B)$5,500
• C)$0
• D)$6,600
• E)$8,8000

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Definitions:

Grocer

A retail merchant or shop that specializes in selling food and other household supplies.

Lawn Care Company

A business that specializes in maintaining and beautifying outdoor grassy areas, gardens, or landscapes.

Business Entity Concept

An accounting principle that treats a business as separate from its owners, requiring separate recording of business transactions.

Cost Concept

An accounting principle that states assets and services should be recorded and based on their original cost at the time of acquisition.