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Question 2 Correct
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A subsidiary entity sold goods to its parent entity for $100 000. The inventories originally cost the subsidiary $125 000. At reporting date, the parent still held all of the inventories.
Which of the following adjustments must be included as part of the consolidation entry to eliminate this transaction?
Select one: Cr Inventory $100 000 Cr Inventory $125 000 Dr Inventory $225 000
0 Dr Inventory $25 000 4/
Your answer is correct.
The correct answer is: Dr Inventory $25 000

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