a. 580,500b. 918,000c. 1,012,500d. 675,000 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?

Name: a. 580,500b. 918,000c. 1,012,500d. 675,000 Dysabel Corp. owns 80% of M
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Description: a. 580,500b. 918,000c. 1,012,500d. 675,000 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 D

Cost of sales can be defined as the actual cost incurred over the goods to make the available for…

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Business

Accounting

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

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

Topic Video

Question

a. 580,500

b. 918,000

c. 1,012,500

d. 675,000

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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