When the Parent Company Sells a Portion of Its Investment

question 12

Multiple Choice

When the parent company sells a portion of its investment in a subsidiary, the workpaper entry to adjust for the current year's income sold to noncontrolling stockholders includes a:

• A) debit to Subsidiary Income Sold.
• B) debit to Equity in Subsidiary Income.
• C) credit to Equity in Subsidiary Income.
• D) credit to Subsidiary Income Sold.

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