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Why is there no elimination transaction in this scenario?

edited Dec 9, 2025 9:52PM in Ask A Guru 7 comments

Hi

I have a "Investment in Subsidiary B" Asset account marked for 'Eliminate Intercompany Transactions' in subsidiary A's Books

On the other side, I have a "loan from Subsidiary A' Liability account in subsidiary B's books also with 'Eliminate Intercompany Transactions' marked.

These are the journal entries (with the real names taken out):

why would this not create an elimination entry on consolidation?

Shouldn't there be an entry reversing the impact of both the investment (the first 2 lines) and another entry reversing the effect of the loan (the last two lines)?

thanks

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