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)