How much revenues and expenses will be reported, Financial Accounting

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How much revenues and expenses will be reported

Consolidated Financial Statements

Response to the following problem:

Parent Company owns 90% of the outstanding stock of Sub Company. At the end of the year, Sub Company reports revenues of $1,000 and expenses of $850. What will Parent Company report on its own financial statements as "Income from Sub"? On the consolidated financial statements, how much of Sub Company's revenues and expenses will be reported?

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Financial Accounting: How much revenues and expenses will be reported

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