Question
Heavy owns 60% of Light. In 2019, Heavy reports third party Purchases of $900,000 and Purchases from Light of $500,000. Light reports Purchases of $500,000,
Heavy owns 60% of Light. In 2019, Heavy reports third party Purchases of $900,000 and Purchases from Light of $500,000. Light reports Purchases of $500,000, of which $200,000 are Purchases from Heavy. How much are consolidated Purchases?
| $720,000 | ||
| $1,200,000 | ||
| $420,000 | ||
| $1,400,000 |
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Connect For Financial Accounting
Authors: Author
6th Edition
1264140304, 9781264140305
