Find Corp and Has Elected to Use Proportionate Consolidation Method

question 41

Multiple Choice

Find Corp and has elected to use proportionate consolidation method to report its investment in Find Corp. for 2013. Both companies are subject to 40% tax rate. What is the total amount of intercompany receivables to be eliminated from the financial statements?

• A) Nil
• B) $10,000
• C) $40,000
• D) $50,000

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