In a workpaper to prepare consolidated financial statements, the elimination entry required in the year following an upstream intercompany sale of equipment at a gain by a partially owned subsidiary should include:
a. a debit to the gain account for the unrealized portion of the gain.
b. a debit to beginning retained earnings for the noncontrolling interest's share of the unrealized portion of the gain.
c. a debit to noncontrolling interest for the noncontrolling interest's share of the unrealized gain.
d. a debit to beginning retained earnings for the unrealized portion of the gain.
a. a debit to the gain account for the unrealized portion of the gain.
b. a debit to beginning retained earnings for the noncontrolling interest's share of the unrealized portion of the gain.
c. a debit to noncontrolling interest for the noncontrolling interest's share of the unrealized gain.
d. a debit to beginning retained earnings for the unrealized portion of the gain.