Maurice Tutor

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    Argosy University/ Phoniex University/
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Category > Accounting Posted 07 May 2018 My Price 2.00

Tiberend, Inc

Tiberend, Inc., sold $150,000 in inventory to Schilling Company during 2014 for $225,000. Schilling resold $105,000 of this merchandise in 2014 with the remainder to be disposed of during 2015. Assuming that Tiberend owns 25 percent of Schilling and applies the equity method, what journal entry is recorded at the end of 2014 to defer the unrealized gross profit?

 

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Maurice Tutor
(5)
Status NEW Posted 07 May 2018 04:05 PM My Price 2.00

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