Solved

Bird Corporation Has Several Subsidiaries That Are Included in Its

Question 4

Multiple Choice

Bird Corporation has several subsidiaries that are included in its consolidated financial statements and several other investments in corporations that are not consolidated.In its year-end trial balance,the following intercompany balances appear.Ostrich Corporation is the unconsolidated company;the rest are consolidated. Bird Corporation has several subsidiaries that are included in its consolidated financial statements and several other investments in corporations that are not consolidated.In its year-end trial balance,the following intercompany balances appear.Ostrich Corporation is the unconsolidated company;the rest are consolidated. What amount should Bird report as intercompany receivables on its consolidated balance sheet? A) $0 B) $10,000 C) $30,000 D) $63,000 What amount should Bird report as intercompany receivables on its consolidated balance sheet?


A) $0
B) $10,000
C) $30,000
D) $63,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q1: Powell Corporation acquired 90% of the voting

Q3: Packo Company acquired all the voting stock

Q8: Which of the following will be debited

Q9: On January 1,2011,Persona Company acquired 80% of

Q10: On December 31,2011,Paladium International purchased 70% of

Q11: Pennack Corporation purchased 75% of the outstanding

Q25: Use the following information to answer question(s)

Q27: A parent corporation owns 55% of the

Q38: When preparing the consolidation workpaper for a

Q48: When preparing consolidated financial statements,which of the