On June 1, 2014, Puell Company acquired 100% of the stock of Sorrell Inc On this date, Puell had Retained Earnings of $100,000 and Sorrell had Retained Earnings of $50,000 On December 31, 2014, Puell had Retained Earnings of $120,000 and Sorrell had Retained Earnings of $60,000. The amount of Retained Earnings that appeared in the December 31, 2014 consolidated balance sheet was
A) $120,000.
B) $130,000.
C) $170,000.
D) $180,000.
A
Explanation: A) (the parent's retained earnings)
Business
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