On January 1 Criquet Co. acquired an interest in the Tamlee Co. for $500,000.  At December 31, Tamlee Co. declared and paid a cash dividend of $50,000 and reported a net income of $160,000.   REQUIRED:  Prepare the journal entries for the Criquet Co. under each of the independent circumstances: 1. Criquet Co. acquires a 10% interest in the Tamlee Co. 2. Criquet Co. acquires a 25% interest in the Tamlee Co.

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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.