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On a Worksheet for a Consolidated Balance Sheet,one Elimination Entry

Question 124

Multiple Choice

On a worksheet for a consolidated balance sheet,one elimination entry:


A) debits notes payable to supplier and credits notes receivable from vendor.
B) debits notes payable to customer and credits notes receivable from customer.
C) debits the subsidiary's stockholders' equity accounts and credits the parent company's Investment in Subsidiary account.
D) debits the parent company's Investment in Subsidiary account and credits the subsidiary's stockholders' equity accounts.

Correct Answer:

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