Question
The loss will affect Penston's consolidated financial statements as it is the parent company. While Swansan would have incurred this loss on its individual financial
The loss will affect Penston's consolidated financial statements as it is the parent company. While Swansan would have incurred this loss on its individual financial statements, it now affects the consolidated financial statements of Penston who had made the purchasing decision. In other words, Penston company lot the $300,000.
What do you think about this statement? Do you agree or disagree?
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Financial Accounting And Reporting
Authors: Mr Barry Elliott, Jamie Elliott
16th Edition
027377817X, 978-0273778172
