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For Consolidation Purposes, What Amount Would Be Debited to January

Question 34

Multiple Choice

For consolidation purposes, what amount would be debited to January 1 retained earnings for the 2012 consolidation worksheet entry with regard to the unrealized gross profit of the 2011 intra-entity transfer of merchandise?


A) $3,000.
B) $2,400.
C) $1,000.
D) $800.
E) $900.

Correct Answer:

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