Q:

Patti Corp. has several subsidiaries (Aeta, Beta, and Gaeta) that are included in its consolidated financial statements

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Patti Corp. has several subsidiaries (Aeta, Beta, and Gaeta) that are included in its consolidated financial statements. In its 12/31/X1 separate balance sheet, Patti had the following intercompany balances before eliminations:In its 12/31/X1 consolidated balance sheet, what amount should Patti report as intercompany receivables?


  1. $166,000
  2. $51,000
  3. $26,000
  4. $0

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D. $0

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