What amount should Dysabel report as Cost of Sales in its 2020 consolidated income statement?a) 1,012,5000b.) 918,000c.) 675,000d.) 580,500 Dysabel Corp. owns 80% of Marina, Inc.'s common stock. During 2020, Dysabel sold MarinaP337,500 of inventory on the same terms as sales made to third parties. Marina sold all of theinventory purchased from Dysabel in 2020. The following information pertains to Marina andDysabel's sales for 2020:DysabelMarinaSales .P1,350,000540,000P945,000472,500P474,500Cost of sales .P 810,000What amount should Dysabel report as Cost of sales in its 2020 consolidated income statement?

While preparing the consolidated income statement, the effects of the intercompany transaction are…

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What amount should Dysabel report as Cost of Sales in its 2020 consolidated income statement? a) 1,012,5000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Question

What amount should Dysabel report as Cost of Sales in its 2020 consolidated income statement?

a) 1,012,5000

b.) 918,000

c.) 675,000

d.) 580,500

Dysabel Corp. owns 80% of Marina, Inc.'s common stock. During 2020, Dysabel sold Marina
P337,500 of inventory on the same terms as sales made to third parties. Marina sold all of the
inventory purchased from Dysabel in 2020. The following information pertains to Marina and
Dysabel's sales for 2020:
Dysabel
Marina
Sales .
P1,350,000
540,000
P945,000
472,500
P474,500
Cost of sales .
P 810,000
What amount should Dysabel report as Cost of sales in its 2020 consolidated income statement?

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