The Equity Account Balances of Shiram Company and Its 100

question 196

Multiple Choice

The equity account balances of Shiram Company and its 100% owned subsidiary, Bombay Inc. at December 31, 2014 are as follows: The consolidation worksheet eliminations at December 31, 2014 will include:

• A) a debit to Share Capital - Shiram for Rs4,596,000.
• B) a credit to Retained Earnings - Shiram for Rs2,904,000.
• C) a debit to Share Capital - Bombay for Rs3,165,000.
• D) a credit to Retained Earnings - Bombay for Rs1,065,000.

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