For Consolidation Purposes, What Amount Would Be Debited to January

question 34

Multiple Choice

For consolidation purposes, what amount would be debited to January 1 retained earnings for the 2012 consolidation worksheet entry with regard to the unrealized gross profit of the 2011 intra-entity transfer of merchandise?

• A) $3,000.
• B) $2,400.
• C) $1,000.
• D) $800.
• E) $900.

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