subject
Business, 05.05.2020 16:16 Lorettareneemills

Power Corporation owns 75 percent of Swift Companyâs stock. Swift provides health care services to its employees and those of Power. During 20X2, Power recorded $37,500 as health care expense for medical care given to its employees by Swift. Swiftâs costs incurred in providing the services to Power were $32,000.a. By what amount will consolidated net income change when the intercompany services are eliminated in preparing Powerâs consolidated statements for 20X2?b. What would be the impact of eliminating the intercompany services on consolidated net income if Power owned 100 percent of Swiftâs stock rather than 75 percent?c. If in its consolidated income statement for 20X2 Power had reported total health care costs of $72,000, what was the cost to Swift of providing health care services to its own employees?

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 05:30
From a business perspective, an information system provides a solution to a problem or challenge facing a firm and represents a combination of management, organization, and technology elements. the organization's hierarchy, functional specialties, business processes, culture, and political interest groups are components of which element of information systems?
Answers: 1
question
Business, 22.06.2019 09:20
Which statement best defines tuition? tuition is federal money awarded to a student. tuition is aid given to a student by an institution. tuition is money borrowed to pay for an education. tuition is the price of attending classes at a school.
Answers: 1
question
Business, 22.06.2019 14:50
The following information is needed to reconcile the cash balance for gourmet catering services. * a deposit of $5,600 is in transit. * outstanding checks total $1,000. * the book balance is $6,400 at february 28, 2019. * the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent. * the bank balance at february 28, 2019 was $17,410. * a deposit of $400 was credited by the bank for $4,000. * a customer's check for $3,300 was returned for nonsufficient funds. * the bank service charge is $90. what was the adjusted book balance?
Answers: 1
question
Business, 22.06.2019 14:50
One pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 20% of the following month's production needs. purchases of raw materials for february would be budgeted to be:
Answers: 2
You know the right answer?
Power Corporation owns 75 percent of Swift Companyâs stock. Swift provides health care services to i...
Questions
question
Mathematics, 20.04.2020 19:36
question
Mathematics, 20.04.2020 19:36
Questions on the website: 13722362