Could you please tell me how the journal entries would be to transfer the elimin

Question

Could you please tell me how the journal entries would be to transfer the elimination to NCI in the upstream sale of PPE?

Given the NCI would be in 20%

the journal entries of the upstream sale of PPE are:

Dr. RE 160000

Dr. PPE 740000

Cr. A/D 900000

&

Dr. A/D 30000

Cr. Dep. Exp. 20000

Cr. RE 10000

how to transfer 20% of elimiation to NCI ?

I know the transferation of RE would be:

Dr. NCI (B/S) 32000

Cr. RE 32000

&

Dr. RE 2000

Cr. NCI (B/S) 2000

But how the transfer 20% of expenses to NCI would be?

Is it Dr. NCI (B/S) 4000 & Cr. NCI (I/S) 4000 ?

Explanation / Answer

Retained Earning Dr 4000 NCI (I/S) Cr 4000 ( Being 20% depn exp related to NCI)

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