Push Company Owns 60% of Shove Company's Outstanding Common Stock

question 6

Multiple Choice

Push Company owns 60% of Shove Company's outstanding common stock. Intra-entity sales are as follows:
-Assume Shove sold the inventory to Push. Using the fully adjusted equity method, what journal entry would be recorded by Push to defer the unrealized gross profit on inventory sales to Shove in 20X1?

• A) Option A
• B) Option B
• C) Option C
• D) Option D

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Definitions:

Asymmetrical Body

A bodily form in which the left and right sides do not mirror each other in shape or size, uncommon among higher organisms.

Phylum

A rank in the biological classification system that is below kingdom and above class, grouping together organisms that share a common ancestor and basic body plan.

Porifera

A phylum of aquatic invertebrate animals that comprises the sponges, characterized by a porous body and a simple construction.

Molecular Data

Information or details extracted from the study of molecules to understand their characteristics, structure, and interactions.