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For Consolidation Purposes, What Amount Would Be Debited to January

Question 123

Multiple Choice

For consolidation purposes, what amount would be debited to January 1 retained earnings for the 2010 consolidation worksheet entry with regard to the unrealized gross profit of the 2010 intra-entity transfer of merchandise?


A) $0.
B) $1,600.
C) $300.
D) $240.
E) $270.

Correct Answer:

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