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Correcting Cumulative Translation Adjustment

edited Nov 17, 2025 3:13PM in Ask A Guru 3 comments

We merged two subsidiaries and closed out the balance sheet accounts for subsidiary "A". However, the consolidated balance sheet shows a balance for the subsidiary in the additional paid in capital, retained earnings and cumulative translation adjustment accounts. Do you recommend doing a manual journal entry to zero out these balance at the elimination subsidiary or parent level?

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