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Consolidated retained earnings

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I am having trouble with the following three questions:

1. What is "consolidated retained earnings"?

2. Distinguish between "transfer at cost" and "transfers at a profit or loss" in intercompany transactions?

3. What is the eliminating entry when one subsidiary sells merchandise to another subsidiary?

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Solution Summary

Consolidated retained earnings are examined. Transfer at cost and transfers at a profit or loss in intercompany transactions are distinguished.

Solution provided by:
Jayant Kumar, MBA
Education
  • MBA, Indian Institute of Finance
  • Bsc, Madras University
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