What gross profit as a result of these sales, Accounting Basics

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What gross profit as a result of these sales

Perry, Inc. owns a 90% interest in Brown Corp. During 20X6, Brown sold $100,000 in merchandise to Perry at a 30% gross profit. Ten percent of the goods are unsold by Perry at year end. The noncontrolling interest will receive what gross profit as a result of these sales?

a. $0

b. $2,700

c. $3,000

d. $27,000

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Accounting Basics: What gross profit as a result of these sales

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Accounting Basics: What gross profit as a result of these sales

Reference No:- TGS066339

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Recent Questions Asked Accounting Basics

Q : Year-end inventory exceed the unrealized profits

Q : Prepare stakeholder balance sheet

Q : Determine optimal decision for search costs

Q : Compute ending inventory at may 31 and cost of goods sold

Q : What gross profit as a result of these sales

Q : Conclude whether risk averse and risk neutral for gambling

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Q : Compute the estimated inventory at may 31

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What gross profit as a result of these sales

Reference No:- TGS066339

Recent Questions Asked Accounting Basics

Q : Year-end inventory exceed the unrealized profits

Q : Prepare stakeholder balance sheet

Q : Determine optimal decision for search costs

Q : Compute ending inventory at may 31 and cost of goods sold

Q : What gross profit as a result of these sales

Q : Conclude whether risk averse and risk neutral for gambling

Q : Cost and accumulated depreciation

Q : Compute the estimated inventory at may 31

Q : Determine expected profits over the next six months

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