Question

What account balances in the subsidiary stockholders' equity accounts should be eliminated in preparing a consolidated...

What account balances in the subsidiary stockholders' equity accounts should be eliminated in preparing a consolidated balance sheet?

A) Common stock

B) Additional paid-in capital

C) Retained Earnings

D) All of these account balances are eliminated

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Answer #1

The correct answer for the question is Option D - All of these account balances are eliminated. This option is the correct answer because during the consolidation process, common stock, additional paid in capital and retained earnings of the subsidiary are all eliminated.

Option A, Option B and Option C are individually correct. All these accounts are combined within Option D and hence other 3 options are incorrect.

Please let me know if you have any questions via comments and all the best :)

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