What Is the Amount of Consolidated Net Income for the Year

question 72

Multiple Choice

What is the amount of consolidated net income for the year 2017?

• A) $3,180,000.
• B) $3,612,000.
• C) $3,300,000.
• D) $3,588,000.
• E) $3,420,000.

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Definitions:

Subsidiary Ledger

An accounting ledger containing detailed information for individual accounts, used to support the main ledger.

General Journal

A basic accounting record for entering all types of transactions before they are transferred to specific accounts in the general ledger.

Financial Statement

Documents that report on a company's financial performance and health, including the balance sheet, income statement, and cash flow statement.