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Please help with question............................................ On January 1, 2018, Jay Company acquired all the outstanding ownership shares of Zee Company. In assessing Zee's acquisition-date fair values,
Please help with question............................................
On January 1, 2018, Jay Company acquired all the outstanding ownership shares of Zee Company. In assessing Zee's acquisition-date fair values, Jay concluded that the carrying value of Zee's long-term debt (8-year remaining life) was less than its fair value by $21,600. At December 31, 2018, Zee Company's accounts show interest expense of $14,440 and long-term debt of $380,000 What amounts of interest expense and long-term debt should appear on the December 31, 2018, consolidated financial statements of Jay and its subsidiary Zee? $17,14 $17, $11, me $11, me Interest expense b. d. Long-term debt $401 , 600 $398 , 900 $401 , $398, 900
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