Multiple Choice
Lea Company acquired all of Tenzing Corporation's stock on January 1,20X6 for $150,000 cash.On December 31,20X8,the trial balances of the two companies were as follows:
Tenzing Corporation reported retained earnings of $75,000 at the date of acquisition.The difference between the acquisition price and underlying book value is assigned to buildings and equipment with a remaining economic life of five years from the date of acquisition.At December 31,20X8,Tenzing owed Lea $4,000 for services provided.
-Based on the preceding information,all of the following are eliminating entries required on December 31,20X8,to prepare consolidated financial statements,except:
A) Option A
B) Option B
C) Option C
D) Option D
Correct Answer:
Verified
Correct Answer:
Verified
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