What consolidated total assets will be


Balance sheet information for Pawn Company and its 90%-owned subsidiary, Sox Corporation, at December 31, 20X1, is summarized as follows:

Pawn Sox
Current assets-net $ 200,000 $ 50,000
Property, plant, and equipment-net 1,000,000 600,000
Investment in Sox 558,000
$1,758,000 $650,000

Current liabilities $ 100,000 $ 30,000
Capital stock 800,000 400,000
Retained earnings 858,000 220,000
$1,758,000 $650,000

Pawn acquired its interest in Sox for cash at book value several years ago when Sox's assets and liabilities were equal to their fair values.

what Consolidated total assets of Pawn and Sox, at December 31, 20X1, will be  ?

 

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Accounting Basics: What consolidated total assets will be
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