
Concept Introduction:
The various terms are used here.
The terms that are used here are
a. Subsidiary
A subsidiary is the company whose shares are bought by another company. But the purchasing company must buy shares more than 50% of ownership.
b. Parent
A parent company is the company shares of the other company more than 50% of ownership. The company whose shares are bought by another company is treated as subsidiary.
c. Controlling
When a company purchases an investment ranging from 20 % to 50 % of ownership and that gives a significant control to the investor over the investee.
When a company has significant control over the other company in case, it is treated as controlling company.
The mentioned terms have been discussed.
To complete:
The descriptions by filling in the blanks using the terms given.

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Chapter 15 Solutions
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- A manufacturing company reports the following financial data: • Current Assets: $12,500 • Accounts Receivable: $6,200 • Cash: $3,500 • Inventories: $2,400 • Sales (all credit): $30,000 • Cost of Goods Sold: $24,000 • Total Current Liabilities: $11,500 Compute the Current Ratio, Quick Ratio, Inventory Turnover, Fixed Asset Turnover, and Debt Ratio.arrow_forwardGive me solution this question general accountingarrow_forwardSatya Enterprises reported the cost of goods sold on its incomearrow_forward
- Blaze Corporation's liability account balances at August 31, 2023, included an 8% note payable. The note is dated November 1, 2021, and carried an original principal amount of $750,000. The note is payable in three equal annual payments of $250,000 plus interest. The first interest and principal payment was made on November 1, 2022. In Blaze Corporation's August 31, 2023, balance sheet, what amount should be reported as Interest Payable for this note? (Round your answer to nearest number if needed) A) $12,500 B) $25,000 C) $33,333 D) $40,000arrow_forward???arrow_forwardQuick answer of this accounting questionsarrow_forward
- Kindly help me with accounting questionsarrow_forwardA company had expenses other than the cost of goods sold of $280,000. Determine sales and gross profit given that the cost of goods sold was $120,000 and net income was $180,000. A. Sales: $580,000; Gross Profit: $60,000 B. Sales: $580,000; Gross Profit: $460,000 C. Sales: $460,000; Gross Profit: $580,000 D. Sales: $400,000; Gross Profit: $180,000 E. Sales: $400,000; Gross Profit: $60,000arrow_forwardSUBJECT: GENERAL ACCOUNTINGarrow_forward
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