On 1/5/2015 , K-mart. Co acquired 90% shares of the outstanding common shares of Tesco. for $360000 cash. At this date the common stock of Tesco was $ 280000 and retained earnings of $ 90000 and treasury stock of 10000. The income of Tesco before acquisition was 20000. If the company uses full year method, the retained earnings in the eliminating entry (related to investment) will be recorded as: Select one: a. 120000 b. 110000 c. 90000 d. 100000

Q: On 1/5/2015 , K-mart. Co acquired 90% shares of the outstanding common shares of Tesco. for $360000…

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A: Formulas for the above table:

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Q: earnings

A:

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A: Please see the next step for the solution

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.