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Make the answer clear The following case shows the financial position of a parent company (Par) and its subsidiary company (Sub) on November 30, 2019,
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The following case shows the financial position of a parent company (Par) and its subsidiary company (Sub) on November 30, 2019, just after the parent had purchased 90% of the subsidiary's stock: Par (OMR) Sub (OMR) Current assets 780,000 280,000 Investment in S Company 190,000 Long term assets 1,200,000 400,000 Other assets 70,000 70,000 Total asset 2.240.000 750,000 Current liabilities 700,000 260,000 Long term liabilities 920,000 270,000 Common stock 600,000 180,000 Retained earnings 20.000 40.000 Total equities 2.240,000 750.000 Required a. Prepare consolidated balance Sheet workpaper for year ending 30th November 2019 for Par Co and subsidiaryStep by Step Solution
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