Question
On June 1, 2017, Polk Company acquires 100% of the stock of Sully Company. On this date Polk has retained earnings of P100,000 and Sully
On June 1, 2017, Polk Company acquires 100% of the stock of Sully Company. On this date Polk has retained earnings of P100,000 and Sully has retained earnings of P50,000. On December 31, 2017, Polk has retained earnings of P120,000 and Sully has retained earnings of P60,000.
The amount of retained earnings that should appear in the consolidated balance sheet is
Group of answer choices
a. P120,000
b. P180,000
c. P130,000
d. P150,000
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Payroll Accounting 2018
Authors: Bernard J. Bieg, Judith Toland
28th edition
1337291056, 978-1337291057, 1337291137, 9781337291132, 9781337516686 , 978-1337291040
