Question:

What are the elimination adjusting (journal) entries for consolidated financial statement?

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Any recommended sites for some examples?

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   Report

2 ANSWERS


  1. What you asked is a complex question. That consolidated financial statement is made of consolidated balance sheet, consolidated income statement, consolidated cash flow statement.

    All of this according to the proportion of shares and transactions between the companies.

    Maybe you may look for it in a professional accounting book in the library.

    Lucky you!


  2. Basically, you eliminate any and all of the double counting from intercompany transactions.  Many good sites out there too many to list, but try Google on:  "elimination entries on intercompany transfers (transactions)".

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