Matador Inc. owns 60% of Tital Co.s' outstanding common stock. Matador's liabilities total $350000, and Titan's liabilities total $200000. Included in Titan's financila statements is a $100000 note payable to Matado. What amount of total liabilities should be reported in the coonsolidated financial statements?

Answer rating: 100% (QA)

To determine the amount of total liabilities that should be reported in the consolidated financial s... View the full answer