On December 31,20X8,Pancake Company acquired controlling ownership of Syrup 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 20X8,Pancake Company provided consulting services to Syrup Company and has not yet paid for them.There were no other receivables or payables between the companies at December 31,20X8.
-Based on the information given,what amount will be reported as total controlling interest in the consolidated balance sheet?
Definitions:
Combine
The process of uniting two or more expressions into a single expression using mathematical operations.
Simplify
The process of making an expression easier to understand or work with by combining like terms, reducing fractions, etc.
Rational Model
A mathematical model that uses rational expressions to describe relationships between different quantities.
Least Common Denominator
The smallest positive integer that is divisible by each denominator of a set of fractions, facilitating their comparison or summation.
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