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ACC- Match the FOllowing

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Question;For each of the following situations (1-10), select the correct entry (A-E) that would be required on a consolidation worksheet1. None for the above2. Debit retained earnings3. Credit retained earnings4. Credit retained earnings5. Debit retained earnings6. Debit retained earnings7. None of the above;Upstream beginning inventory profit, using the initial value method;8. Debit retained earnings9. Credit investment in subsidiary10. Debit investment in subsidiary;Downstream transfer of land, in the period after transfer, where subsidiary recognizes a loss, using the initial value method _____Downstream beginning inventory profit, using the initial value method____Upstream ending inventory profit, using the initial value method ______Downstream ending inventory profit, using the initial value method _____Upstream transfer of depreciable assets, in the period after transfer, where subsidiary recognizes a gain, using the initial value method _____Downstream transfer of depreciable assets, in the period after transfer, where subsidiary recognizes a gain, using the initial value method _____Upstream transfer of land, in the period after transfer, where subsidiary recognizes a loss, using the initial value method _____Eliminate income from subsidiary, recorded under the equity method_____Eliminate recorded amortization of acquisition fair value over book value, recorded under the equity method

 

Paper#44189 | Written in 18-Jul-2015

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