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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.