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On 1/1 the balances of Retained earnings for P is 110000 JD and for S is 50000 JD. Company S owed Company P interest amount
On 1/1 the balances of Retained earnings for P is 110000 JD and for S is 50000 JD. Company S owed Company P interest amount of 9000 JD, S recorded accrued interest payable but company P did not record it yet. After recording eliminating entries the consolidated balance for Retained Earnings is
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Financial Accounting Tools For Business Decision Making WileyPLUS NextGen Card Single Semester
Authors: Paul D. Kimmel ,Jerry J. Weygandt ,Donald E. Kieso
10th Edition
1119791022, 978-1119791027
