Question: When completing a consolidation working paper, the eliminating entry for a prior year intercompany transfer of land includes a credit to the parents investment account
When completing a consolidation working paper, the eliminating entry for a prior year intercompany transfer of land includes a credit to the parents investment account when the transfer is:
A. A downstream sale and the transfer was made at a gain B. An upstream sale and the transfer was made at a gain C. A downstream sale and the transfer was made at a loss D. An upstream sale and the transfer was made at a loss
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