During the previous year, a partly-owned subsidiary made a transfer from retained earnings to a general reserve. In the current year, which of the following lines would appear in the NCI journal relating to the previous year's transfer?
A) DR NCI.
B) CR Retained earnings.
C) DR General reserve.
D) CR Transfer to general reserve.

Question

Quizplus · Accepted Answer

The Answer of During the previous year, a partly-owned subsidiary made a transfer from retained earnings to a general reserve. In the current year, which of the following lines would appear in the NCI journal relating to the previous year's transfer?
A) DR NCI.
B) CR Retained earnings.
C) DR General reserve.
D) CR Transfer to general reserve.

During the Previous Year, a Partly-Owned Subsidiary Made a Transfer