_____ for 2004 a Branch Reported $18,000 of Profit

Multiple Choice

_____ For 2004 a branch reported $18,000 of profit. In the combining worksheet at year-end, the Home Office Capital account had a balance of $60,000 in the balance sheet. The basic elimination entry would include which of the following individual postings?

A) A debit to the Branch Income account for $18,000.
B) A credit to the Branch Income account for $18,000.
C) A debit to the Branch Income account for $42,000.
D) A debit to the Branch Income account for $60,000.
E) None of the above.