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On January 1, 2018, a 75%-owned Subsidiary company sold to its Parent company for $430,000 a parcel of land that had cost the Subsidiary $428,000.
On January 1, 2018, a 75%-owned Subsidiary company sold to its Parent company for $430,000 a parcel of land that had cost the Subsidiary $428,000. On March 2, 2021, Parent company sold the land to an outside company for $433,000.
For which of the following years ended December 31, would the working paper eliminating entries include an adjustment to either Investment in Subsidiary or Retained Earnings?
Group of answer choices
2018, 2019, 2020 and 2021.
2019 and 2020.
2019, 2020 and 2021.
2018, 2019 and 2020.
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