Under the Partial Equity Method, the Workpaper Entry That Reverses

Multiple Choice

Under the partial equity method, the workpaper entry that reverses the effect of subsidiary income for the year includes a:

A) credit to Equity in Subsidiary Income.
B) debit to Subsidiary Income Sold.
C) debit to Equity in Subsidiary Income.
D) credit to Equity in Subsidiary Income and debit to Subsidiary Income Sold.