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If a firm consolidates subsidiaries not wholly owned, an income statement item is created that is termed: (Points : 5) dividend income minority share of earnings equity income extraordinary gain from sale of subsidiary
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Asked 5/10/2013 9:44:22 PM
Updated 9/1/2014 1:36:46 AM
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User: If a firm consolidates subsidiaries not wholly owned, an income statement item is created that is termed: (Points : 5) dividend income minority share of earnings equity income extraordinary gain from sale of subsidiary

Weegy: The equity method carries these investments at cost plus accumulated share of income of the subsidiary, less dividends paid by the subsidiary and any write-offs of the goodwill on purchase. [ If the holding is greater than 50 percent, consolidation accounting combines the ?nancial statements of the related ?rms into one set of ?nancial statements, so equity investments do not appear on the consolidated statement ]
Expert answered|tomasvolta|Points 20|

Question
Asked 5/10/2013 9:44:22 PM
Updated 9/1/2014 1:36:46 AM
1 Answer/Comment
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Flagged by jeifunk [9/1/2014 1:36:46 AM]
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If a firm consolidates subsidiaries not wholly owned, an income statement item is created that is termed : minority share of earnings.
Added 9/1/2014 1:36:44 AM
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