The following balance sheets were prepared for Pam Corporation and Slest Company on January 1, 20X2, just

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The following balance sheets were prepared for Pam Corporation and Slest Company on January 1, 20X2, just before they entered into a business combination:


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Pam acquired all of Slest Company’s assets and liabilities on January 1, 20X2, in exchange for its common shares. Pam issued 8,000 shares of stock to complete the business combination.



Required


Prepare a balance sheet of the combined company immediately following the acquisition, assuming Pam’s shares were trading at $60 each.

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Advanced Financial Accounting

ISBN: 9781260772135

13th Edition

Authors: Theodore Christensen, David Cottrell, Cassy Budd

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