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After the acquisition, both companies continued to operate. Their December 31 trial balances were as follows: C D Cash 490 750 Supplies 40 90 Investment
- After the acquisition, both companies continued to operate. Their December 31 trial balances were as follows:
| C | D | |
| Cash | 490 | 750 |
| Supplies | 40 | 90 |
| Investment in D | 600 | |
| Accrued salaries | (80) | (60) |
| Common stock | (50) | (100) |
| Retained earnings | (510) | (420) |
| Revenue | (1,650) | (680) |
| Expense | 1,160 | 420 |
R: Prepare the journal and consolidating entries at year end and the resulting consolidated trial balance.
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