The Following Consolidation Adjusting Journal Entries Appeared at the End

question 16

Multiple Choice

The following consolidation adjusting journal entries appeared at the end of a period in which the parent sold all of its shareholding in a subsidiary.It received $1,200,000 for the shares. At the time of the sale of the shares,the parent was holding the investment in subsidiary at what amount,in its own books?

• A) $450,000.
• B) $700,000.
• C) $950,000.
• D) $1,450,000.
• E) Cannot be determined from the information given.

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