Toy Company is a wholly owned subsidiary of Parks Company. On January 1 of the...
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Toy Company is a wholly owned subsidiary of Parks Company. On January of the current year, Toy Company has $ of bonds outstanding that were issued at face value and have five years to maturity. Both Toy Company and Parks amortize any premium or discount using the straightline method. On January of the next year, Parks will purchase Toy Companys bonds for $ The amounts that should appear on the consolidated balance sheet for Toy Company and Parks Company are:
Toy Company is a wholly owned subsidiary of Parks Company. On January of the current year, Toy Company has $ of bonds outstanding that were issued at face value and have five years to maturity. Both Toy Company and Parks amortize any premium or discount using the straightline method. On January of the next year, Parks will purchase Toy Companys bonds for $
The amounts that should appear on the consolidated balance sheet for Toy Company and Parks Company are:
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