为了帮助各位即将参加2015年USCPA（美国注册会计师）考试的考生更好地复习及备考，高顿网校小编在此准备以下关于“公司内部交易”的模拟试题，你会做了吗？
　　Perez, Inc. owns 80% of Senior, Inc. During Year 1, Perez sold goods with a 40% gross profit to Senior. Senior sold all of these goods in Year 1. For Year 1 consolidated financial statements, how should the summation of Perez and Senior's income statement items be adjusted?
　　a. No adjustment is necessary.
　　b. Sales and cost of goods sold should be reduced by the intercompany sales.
　　c. Sales and cost of goods sold should be reduced by 80% of the intercompany sales.
　　d. Net income should be reduced by 80% of the gross profit on intercompany sales.
　　Explanation
　　Choice "b" is correct. Sales and cost of goods sold should be reduced by the intercompany sales.
　　Perez's sales price is Senior's purchase price. When Senior sells to an outside party, this amount becomes Senior's cost of sales. The sales price to the outsider is okay and the original cost of sales on Perez's books is okay, but the sales and cost of sales are overstated, for a like amount, by the intercompany transaction.
　　Note: No inventory adjustment is needed since none of the intercompany goods sold are on hand at year end.
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