_____ For 2004 a branch reported $18,000 of profit. In the combining worksheet at year-end, the Home Office Capital account had a balance of $60,000 in the balance sheet. The basic elimination entry would include which of the following individual postings?
A) A debit to the Home Office Capital account for $18,000.
B) A credit to the Home Office Capital account for $42,000.
C) A debit to the Home Office Capital account for $42,000.
D) A debit to the Home office Capital account for $60,000.
E) None of the above.

Question

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The Answer of _____ For 2004 a branch reported $18,000 of profit. In the combining worksheet at year-end, the Home Office Capital account had a balance of $60,000 in the balance sheet. The basic elimination entry would include which of the following individual postings?
A) A debit to the Home Office Capital account for $18,000.
B) A credit to the Home Office Capital account for $42,000.
C) A debit to the Home Office Capital account for $42,000.
D) A debit to the Home office Capital account for $60,000.
E) None of the above.

_____ for 2004 a Branch Reported $18,000 of Profit