Ocean Limited has two subsidiary entiConsolidation adjusting entries affect the ledger accounts of the parent and subsidiaries.ties, River Limited and Lake Limited. Ocean Limited owns 100% of the shares in both entities. Details of the cash accounts of each company are: Ocean Limited $140 000, River Limited $60 000, Lake Limited $30 000. The balance of the consolidated cash account of the Ocean Limited group is

Answer rating: 100% (QA)

To determine the balance of the consolidated cash account for Ocean Limited group we need to sum up ... View the full answer