Which of the following statements is incorrect? If a company acquires shares in a subsidiary cum div, consolidation adjusting entries are required to eliminate dividend payable and dividend receivable up until the dividend is paid by the subsidiary. When a subsidiary has existing goodwill in their books at the date of acquisition, the amount of FVINA will decrease in the acquisition analysis. The Investment in subsidiary account is always eliminated on consolidation and this account will always be equal to zero for the group. A bargain purchase gain arises when the purchase consideration is greater than the FVINA acquired