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Business, 20.03.2020 06:21 twiddleturd
King, Inc., owns 70% of Simmon Co.’s outstanding common stock. King’s liabilities total $450,000, and Simmon’s liabilities total $200,000. Included in Simmon’s financial statements is a $100,000 note payable to King. What amount of total liabilities should be reported in the consolidated financial statements?
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King, Inc., owns 70% of Simmon Co.’s outstanding common stock. King’s liabilities total $450,000, an...
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