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Advance Financial Accounting

Do a basic statement of financial position and an income statement for Pirate, Sailor and consolidated for October, November and December for the transaction in paragraph 1.Explain the idea of separate legal entities, but one economic entity for consolidation. Explain in terms of historical cost, revenue recognition and matching principle. Why does the bank care about consolidated financial statements? Read less

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25 Other / Other University Of Toronto / MGT2205 18 Nov 2020