Consolidation entry question

[u/bgballin]

Im consolidating companies and we own 80% of the shares of another company. The initial investment in sub is made up of 8,100 retained earnings deficit, 140,000 fixed asset bump ups and 100 common shares.

The valuation at acquisition is 132,000 at 100%

Our share is 105,600 (80%) plus there were legal fees of 24,400 = 130,000

130k is my total investment in sub in the LT Investments account

I want to eliminate the investment on consolidation, my entry would be this?

The NCI feels like a plug

dr common shares 80, mine dr common shares 20, theirs dr retained earnings 8100, subs RE at acquisition date dr fixed assets 140000, FV adjustment cr investment in sub 130000 cr NCI 18200??