When eliminating an intragroup service which of the following would appear in the consolidation worksheet entry?

Question

Quizplus · Accepted Answer

When eliminating an intragroup service, you would debit (Dr) Services expense to remove the expense recorded by the entity receiving the service and credit (Cr) Services revenue to remove the revenue recorded by the entity providing the service. Income tax expense and deferred tax liability are not directly affected by the elimination of intragroup services in the consolidation worksheet.

When Eliminating an Intragroup Service Which of the Following Would