For Each of the Following Situations (1 - 10),select the Correct

question 7

Essay

For each of the following situations (1 - 10),select the correct entry (a - e)that would be required on a consolidated worksheet.
(A. )Debit retained earnings.
(B. )Credit retained earnings.
(C. )Debit investment in subsidiary.
(D. )Credit investment in subsidiary.
(E. )None of the above.
___ 1.Upstream beginning inventory profit,using the initial value method.
___ 2.Downstream beginning inventory profit,using the initial value method.
___ 3.Upstream ending inventory profit,using the initial value method.
___ 4.Downstream ending inventory profit,using the initial value method.
___ 5.Upstream transfer of depreciable assets in the period after transfer where subsidiary recognizes a gain,using the initial value method.
___ 6.Downstream transfer of depreciable assets in the period after transfer where parent recognizes a gain,using the initial value method.
___ 7.Upstream transfer of land in the period after transfer where subsidiary recognizes a loss,using the initial value method.
___ 8.Downstream transfer of land in the period after transfer where parent recognizes a loss,using the initial value method.
___ 9.Income from subsidiary,using the equity method.
___ 10.Amortization of cost over book value,using the equity method.

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Definitions:

Advancement Rates

Measures the pace at which individuals or elements within a system improve, grow, or move to a higher position.

Boost Morale

Refers to actions or strategies aimed at improving the confidence, enthusiasm, or spirit of a group or team.

Cultivation Stage

A phase in various processes where growth, development, or improvement is focused on, often used in organizational, personal development, or agriculture contexts.

Secondary Network

An informal network within an organization or community that facilitates communication and interaction outside of official channels or structures.