Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the loss will affect penston's consolidated financ

The loss will affect Penston's consolidated financial statements as it is the parent company. While...

60.1K

Verified Solution

Question

Accounting

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?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Confidence Intervals Do the calculations on paper. Show all work by writing the equation in symbol format...

Statistics
Q

What are the three basic ways to represent a function?Choose the correct answer below.A. The...

Basic Math
Q

The Florida Department of Transportation FDOT would like to estimate the average speed of vehicles...

Statistics
Q

Explain the purposes, methods, and requirements of attachment and perfection. When does a pawnshop owner...

Accounting
Q

All of the following choices are characteristics of managerial accounting except: Group of answer...

Accounting
Q

The accounting profit before tax of John Ltd (John) for the year ended 30 June...

Accounting
Q

Martin Jackson receives an hourly wage rate of $14, with time and a half for...

Accounting
Q

[The following information applies to the questions displayed below.] The annual report for Malibu Beachwear...

Accounting
Q

a milab pearsonticom hagement - Theory S Appliention - 5P202. work 4.Ch7B. D. Pherex at...

Finance
Q

[The following information applies to the questions displayed below.] On April 10, 2016,...

Accounting
Q

Suppose the cuent expected one-year Treasury bill rates over the following years and liquidity prems...

Finance
Q

10 points sis The payback period for the following project cash flow is 3.25 years....

Finance