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FAR STUDY GROUP
 CPAnet Forum : FAR STUDY GROUP
Subject Topic: Consolidation (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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berry0331
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Posted: 30 Apr 2012 at 16:07 | IP Logged  

So for the consolidated financial statements, does income from sub ever get
eliminated? Is there always the parent's share of sub's earnings?
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astone
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Posted: 30 Apr 2012 at 16:30 | IP Logged  

The Subs retained earnings balance on the day of the acquisition is eliminated.

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