Bayt.com

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Mena Corp. owns 60% of Ott Corp.’s outstanding capital stock.

On May1, Mena advanced Ott $70,000 in cash, which was still outstanding at December31. What portion of this advance should be eliminated in the preparation of the December31 consolidated balance sheet?

A. $70,000

B. $42,000

C. $28,000

D. $0

Accounting Auditing Banking
user-image
Question added by Deleted user
Date Posted: 2015/02/24
Upvote (1) Views (3) Followers (3) Answers (1) Report Question
Write an Answer
Register now or log in to answer.
zeeshan Ramzan
by zeeshan Ramzan , Asst Finance & Admin Manager , Transport Solutions General Trading & Contracting Co.

A. $28,000 after discount ............................

Write Your Answer
More Questions Like This