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On December 31,2008,X Company Acquired Controlling Ownership of Y Company

question 30

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On December 31,2008,X Company acquired controlling ownership of Y Company.A consolidated balance sheet was prepared immediately.Partial balance sheet data for the two companies and the consolidated entity at that date follow:
During 2008,X Company provided consulting services to Y Company and has not yet been paid for them.There were no other receivables or payables between the companies at December 31,2008.
On December 31,2008,X Company acquired controlling ownership of Y Company.A consolidated balance sheet was prepared immediately.Partial balance sheet data for the two companies and the consolidated entity at that date follow: During 2008,X Company provided consulting services to Y Company and has not yet been paid for them.There were no other receivables or payables between the companies at December 31,2008. -Based on the information given,what balance in accounts receivable did Y Company report at December 31,2008? A) $28,000 B) $48,000 C) $40,000 D) $38,000
-Based on the information given,what balance in accounts receivable did Y Company report at December 31,2008?

Identify the essential elements and legal requirements of a real estate transaction, including offers, closings, and the role of escrow.
Understand the purpose and process of title examinations and the importance of accurate property descriptions.
Recognize the significance of closing costs and identify who is responsible for various fees in a real estate transaction.
Understand the roles and responsibilities of parties involved in real estate transactions, including buyers, sellers, and legal professionals.

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