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Investor P Has $160,000 in Assets (Including the Investment Account

Question 33

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Investor P has $160,000 in assets (including the investment account at $22,000) and $36,000 in equity. Investor P purchased (at book value) 100% of Investee G, which has $30,000 in assets and $8,000 in liabilities.
What will the assets, liabilities, and equity be on the consolidated balance sheet?
Investor P has $160,000 in assets (including the investment account at $22,000) and $36,000 in equity. Investor P purchased (at book value) 100% of Investee G, which has $30,000 in assets and $8,000 in liabilities. What will the assets, liabilities, and equity be on the consolidated balance sheet?

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Assets = $160,000 ‒ $22,000 + ...

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