Solution-What amount of total liabilities should be reported

What amount of total liabilities should be reported

Reference no: EM132674408

Question 1: PINK Co. owns 70% of SALMON Co.'s outstanding common stock. PINK's liabilities total P 450,000, and SALMON's liabilities total P 200,000. Included in SALMON's financial statements is a P 100,000 note payable to PINK. What amount of total liabilities should be reported in the consolidated financial statements?

Reference no: EM132674408

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What amount of total liabilities should be reported

Reference no: EM132674408

Reference no: EM132674408

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