Author: Anonymous

Kane Inc. owns 30% of Woodhouse Co. and applies the equity method. During the current year, Kane bought inventory costing $71,500 and then sold it to Woodhouse for $130,000. At year-end, only $30,000 of merchandise was still being held by Woodhouse. What amount of intra-entity gross profit must be deferred by Kane?

Name this type of vertebra. _______ Name the specific smooth area of the bone that the black arrows are pointing to: _______

Name this specific portion of the previously named mature, adult bone. _______

Name this bone: _______

Where is the translation adjustment reported in the parent company’s financial statements?

Name the specific depression area of the previously named bone that the bamboo pointer is pointing to: _______

Under the current rate method, common stock would be translated at what rate?

Male or female? _______

Name the part of the most recently named portion of the mature, adult bone that my finger is pressing on: _______

            Clark Stone purchases raw material from its foreign supplier, Rinne Clay, on May 8. Payment of 1,500,000 foreign currency units (FC) is due in 30 days. May 31 is Clark’s fiscal year-end. The pertinent exchange rates were as follows:             May 8 Spot rate: $ 1.16   May 31 Spot rate: $ 1.18   June 7 Spot rate: $ 1.12     How much US $ will it cost Clark to finally pay the payable on June 7?                         A)    $1,850,000.                     B)    $1,500,000.            C)    $1,770,000.            D)    $1,740,000.            E)    $1,680,000.