consolidated balance sheet working paper, date of acquisition, bargain purchase
Consolidated Balance Sheet Working Paper, Date of Acquisition, Bargain Purchase tombination, follow: - When sppropriane, use negater vigns withyour revaluation answers deft colurn enthe - When appropriate use negative sugns witr your revatoaudansw - Do not use negative signs with your answers in the right column. - Do not use negative signs with your answers in the right column. - Enter answers in mililiens. Faworis acquisition entry lin millions) b. Prepare a working paper to consoligate the balance sheets af Paxon and 5 axon at january 7.2022. c. Present the consolidated toalance sheiet in yood farm, of the date of arquisition. - Do not use negative signs for any of your answers - Eriser answers in mrillieng On january 1, 2022, Paxon Corporation acquired 80 percent of the outstanding common stock of the Saxon Company for $1.7 billion cash. The balance sheets of Paxon and Saxon, immediately prior to the combination, follow: Several of Saxon's assets and liabilities had fair values that were different from their book values. Estimates of the fair values of these items follow: In addition, Saxon had previously unrecorded identifiable intangible assets valued at $875 million. The estimated fair value of the a. Calculate the gain on acquisition and prepare Paxon's entry to record the acquisition. - When appropriate, use negative signs with your revaluation answers (left column only). - Do not use negative signs with your answers in the right column. - Enter answers in millions. Paxon's acquisition entry (in millions): Prepare a working paper to consolidate the balance sheets of Paxon and Saxon at January 1, 2022. Remember to use negative signs with your credit (Cr) balance answers in the Dr (Cr) columns Fnter answers in c. Present the consolidated balance sheet, in good form, at the date of acquisition. - Do not use negative signs for any of your answers. - Enter answers in millions. January 1, 2022 (in millions) Assets Cash and receivables Inventory Current assets Equity method investments Land Buildings and equipment, net Identifiable intangible assets Total assets Liabilities and shareholders' equity Current liabilities Long-term debt Total liabilities Shareholders' equity Paxon stockholders' equity: Common stock Additional paid-in capital \begin{tabular}{|} $ & 0 \\ 0 \\ \hline \end{tabular} Retained earnings Total Paxon shareholders' equity Noncontrolling interest Total shareholders' equity Total liabilities and shareholders' equity Consolidated Balance Sheet Working Paper, Date of Acquisition, Bargain Purchase tombination, follow: - When sppropriane, use negater vigns withyour revaluation answers deft colurn enthe - When appropriate use negative sugns witr your revatoaudansw - Do not use negative signs with your answers in the right column. - Do not use negative signs with your answers in the right column. - Enter answers in mililiens. Faworis acquisition entry lin millions) b. Prepare a working paper to consoligate the balance sheets af Paxon and 5 axon at january 7.2022. c. Present the consolidated toalance sheiet in yood farm, of the date of arquisition. - Do not use negative signs for any of your answers - Eriser answers in mrillieng On january 1, 2022, Paxon Corporation acquired 80 percent of the outstanding common stock of the Saxon Company for $1.7 billion cash. The balance sheets of Paxon and Saxon, immediately prior to the combination, follow: Several of Saxon's assets and liabilities had fair values that were different from their book values. Estimates of the fair values of these items follow: In addition, Saxon had previously unrecorded identifiable intangible assets valued at $875 million. The estimated fair value of the a. Calculate the gain on acquisition and prepare Paxon's entry to record the acquisition. - When appropriate, use negative signs with your revaluation answers (left column only). - Do not use negative signs with your answers in the right column. - Enter answers in millions. Paxon's acquisition entry (in millions): Prepare a working paper to consolidate the balance sheets of Paxon and Saxon at January 1, 2022. Remember to use negative signs with your credit (Cr) balance answers in the Dr (Cr) columns Fnter answers in c. Present the consolidated balance sheet, in good form, at the date of acquisition. - Do not use negative signs for any of your answers. - Enter answers in millions. January 1, 2022 (in millions) Assets Cash and receivables Inventory Current assets Equity method investments Land Buildings and equipment, net Identifiable intangible assets Total assets Liabilities and shareholders' equity Current liabilities Long-term debt Total liabilities Shareholders' equity Paxon stockholders' equity: Common stock Additional paid-in capital \begin{tabular}{|} $ & 0 \\ 0 \\ \hline \end{tabular} Retained earnings Total Paxon shareholders' equity Noncontrolling interest Total shareholders' equity Total liabilities and shareholders' equity
