The following are select records from Kat and Dog as of Dec. 31st. All revenues, expenses,and dividends are assumed to occur evenly over the year. Kat acquired 70% of Dog earlier thisyear on July 1st. At the date of acquisition the only excess FMV item is a Trademark that isundervalued by $100 with a 5-year remaining life.KATDOGREVENUES$ 800$ 400COGS20080OTHER EXPENSES400100DIVIDENDS5010On the 12/31 Consolidated Financial Statements, what amounts will be reported for:1. Revenues:2. COGS:3. Other expenses:4. Dividends:5. NCI in Net Income:

To determine the amounts reported in the consolidated financial statements for the given items, we…

Answered: On the 12/31 Consolidated Financial…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What is the amount of Net revenues on the CONSOLIDATED STATEMENTS OF INCOME for LEVI STRAUSS & CO. AND SUBSIDIARIES for the most recent fiscal year? CONVERT the number presented on the CONSOLIDATED STATEMENTS OF INCOME. LEVI STRAUSS & CO. AND SUBSIDIARIES presents its financial statements in millions of dollars. For example, if the Net revenues amount shown is 5,324.2, then multiply 5,324.2 by $1,000,000 and enter 5324200000. Enter numbers only; DO NOT enter a dollar sign ($) or commas (,).

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On the 12/31 Consolidated Financial Statements, what amounts will be reported for: 1. Revenues: 2. COGS: 3. Other expenses: 4. Dividends: 5. NCI in Net Income: