P acquired 70% of S in 20X8. The statements of profit or loss of the two companies for the year ended 31 December 20X9 showed revenues: P                      $100000 S                      $70000 During November 20X9, S sold goods to P for $8000. None of these items remained in inventory at the end of year. What is the consolidated revenue for P for the year ended 31 December 20X9?

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A: Understatement means that the closing inventory was more than it was recorded for.

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A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…

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A: PHAROAH CORPORATION Income Statement (Partial) For the Year Ended December 31, 2025Income from…

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Q: Prepare a​ single-step income statement for the year ended December 31.

A: Solution   Prepared The income statement of Melville corporation for the year ended 31,December

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A: Gross margin: Difference between the sales and the cost of goods sold is called gross margin. Gross…

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A: Net income is a company's revenue that includes all of the revenues received and expenses incurred…

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Q: The Weymire Corporation provides you with the following information for the year ended 123120: Sales…

A:

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A: Cash Flow A/c

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Q: A and B formed a joint operation. The following were the transactions during the year:   A B…

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A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Sweeny Corporation owns 60 per cent of Bitner Company's shares. Partial 20X2 financial data for the…

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Q: On January 1, 2012, Aspen Company acquired 80 percent of Birch Company's outstanding voting stock…

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A: CONSOLIDATED JOURNAL ENTRY    Under the consolidation method, the accounting statement merges…

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Q: al entries for elimination of intragroup sales?

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.