When the parent company sells a portion of its investment in a subsidiary, the workpaper entry to adjust for the current year's income sold to noncontrolling stockholders includes a:
A) debit to Subsidiary Income Sold.
B) debit to Equity in Subsidiary Income.
C) credit to Equity in Subsidiary Income.
D) credit to Subsidiary Income Sold.

Question

Quizplus · Accepted Answer

The Answer of When the parent company sells a portion of its investment in a subsidiary, the workpaper entry to adjust for the current year's income sold to noncontrolling stockholders includes a:
A) debit to Subsidiary Income Sold.
B) debit to Equity in Subsidiary Income.
C) credit to Equity in Subsidiary Income.
D) credit to Subsidiary Income Sold.

When the Parent Company Sells a Portion of Its Investment