ADVANCED FINANCIAL ACCOUNTING IA
ADVANCED FINANCIAL ACCOUNTING IA
12th Edition
ISBN: 9781260545081
Author: Christensen
Publisher: MCG
Question
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Chapter 5, Problem 5.6Q
To determine

Consolidated balance sheet:

A consolidated balance sheet is prepared by the parent company to consolidate the assets and liabilities of the parent and its subsidiaries. 

To Indicate the portion of the fair value of assets held by the subsidiary company shown on the consolidated balance sheet in case of majority ownership.

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Ayayai Corp. employs a five-day workweek Monday - Friday and a September 30 year-end. Normal weekly wages amount to $32900. If September 30 is a Wednesday, what is the appropriate journal entry on October 2, the next payday for Ayayai? A. Salaries and Wages Expense 19740 Salaries and Wages Payable 13160 Cash 32900 B. Salaries and Wages Payable 13160 Cash 13160 C. Salaries and Wages Expense 19740 Cash 19740 D. Salaries and Wages Expense 13160 Salaries and Wages Payable 19740 Cash 32900
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ADVANCED FINANCIAL ACCOUNTING IA

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