At dec 31 year 1 grey inc. owned 90 of winn corp a, Ask an Expert

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At Dec 31, Year 1, Grey, Inc. owned 90% of Winn Corp, a consolidated subsidiary, and 20% of Carr Corp., an investee in which Grey cannot exercise significant influence on the same date, Grey had receivables of 300,000 from Winn and 200,000 from Carr. In its Dec 31, Year 1 consolidated balance sheet, Grey should report accounts receivables from affiliates of:

a) 500,000

b) 340,000

c) 230,000

d) 200,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9284058

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