At Acquisition Date a Wholly Owned Subsidiary Had the Following

question 2

Multiple Choice

At acquisition date a wholly owned subsidiary had the following equity items:
-Retained earnings $14 000
-Share capital $30 000
-Business combination revaluation reserve $6000
In the year following the acquisition the subsidiary transferred $10 000 from pre-acquisition retained earnings,to a general reserve account.At the reporting date following the reserve transfer,the following consolidation adjustment is needed:

• A)DR Retained earnings $10 000 CR General reserve $10 000
• B)DR General reserve $10 000 CR Shares in subsidiary $10 000
• C)DR Shares in subsidiary $10 000 CR Retained earnings $10 000
• D)DR General reserve $10 000 CR Retained earnings $10 000.

---

Definitions:

Black Pamphleteers

African American writers and activists who used pamphlets as a medium to disseminate information, advocate for rights, or express social and political critiques during particular historical periods.

Haitian Revolution

A victorious uprising of self-emancipated slaves against the French colonial authority in Saint-Domingue, presently known as Haiti, from 1791 to 1804, aimed at abolishing slavery and colonial dominance.

Cultural Achievements

The notable contributions and innovations made by a society or community in areas such as the arts, sciences, literature, and technology, reflecting its cultural heritage and identity.

War of 1812

A military conflict fought between the United States and Britain from 1812 to 1815, largely over issues of trade restrictions and maritime rights.