Consolidated Financial Statements F09-18b
What is the eliminating entry when parent owns less than 100% of the subsidiary?
DR: Common Stock (of subsidiary)
Additional Paid-in-Cap (of subsidiary)
Retained Earnings ( of subsidiary)
Identifiable Assets (of subsidiary to FV, as needed)
Goodwill (if Investment value > FV of subsidiary’s NA)
CR: Identifiable Liabilities (of subsidiary to FV, as needed)
Investment in subsidiary (from parent’s books)
Noncontrolling Interest (% claim to consolidated net assets attributable to the subsidiary)