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

Question

Quizplus · Accepted Answer

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

During the Current Year, a Partly-Owned Subsidiary Has Made a Transfer