When a parent owns less than 100% of a subsidiary,the noncontrolling interest shareholders are allocated their ownership percentage of income or net assets in all of the following consolidating entries except for:
A)The basic investment account consolidation entry
B)The excess value (differential)reclassification entry
C)The accumulated depreciation consolidation entry
D)The amortized excess value reclassification entry

Question

Quizplus · Accepted Answer

The accumulated depreciation consolidation entry only accounts for the depreciation expense and accumulated depreciation of the subsidiary, and does not involve the allocation of income or net assets to noncontrolling interest shareholders. The other consolidation entries listed do involve this allocation.

When a Parent Owns Less Than 100% of a Subsidiary,the