Brooks owns 20% of Ghost Inc. The following information pertains to an intra entity transfer. What is the journal entry for 12/31 / 20 and what is the journal entry in 2021 if the remaining inventory is sold? Make sure t date your journal entries. Cost to Ghost is $52,000 . Price to Brooks (selling price ) is $72,000 . Ending inventory balance on 12/31 / 20 for Brooks is $ 15,000 .
Brooks owns 20% of Ghost Inc. The following information pertains to an intra entity transfer. What is the journal entry for 12/31 / 20 and what is the journal entry in 2021 if the remaining inventory is sold? Make sure t date your journal entries. Cost to Ghost is $52,000 . Price to Brooks (selling price ) is $72,000 . Ending inventory balance on 12/31 / 20 for Brooks is $ 15,000 .
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Brooks owns 20% of Ghost Inc. The following information pertains to an intra entity transfer. What is the
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A journal entry is a form of accounting entry that is used to report a business transaction in a company's accounting records.
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