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Toy Company is a wholly owned subsidiary of Parks Company. On January 1 of the...

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Accounting

Toy Company is a wholly owned subsidiary of Parks Company. On January 1 of the current year, Toy Company has $100,000 of 8% bonds outstanding that were issued at face value and have five years to maturity. Both Toy Company and Parks amortize any premium or discount using the straight-line method. On January 1 of the next year, Parks will purchase Toy Companys bonds for $96,000.
The amount(s) that should appear on the consolidated balance sheet for Toy Company and Parks Company are:

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