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Please help.Thank you Consolidated Balance Sheet Working Paper, Bargain Purchase On December 31, 2012, Paxon Corporation acquired all of the outstanding common stock of Saxon
Please help.Thank you
Consolidated Balance Sheet Working Paper, Bargain Purchase On December 31, 2012, Paxon Corporation acquired all of the outstanding common stock of Saxon Company for $1.44 billion cash. The balance sheets of Paxon and Saxon, immediately prior to the combination, are shown below: 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: (a) Calculate the gain on acquisition in this bargain purchase. million (b) Prepare a working paper to consolidate the balance sheets of Paxon and Saxon at December 31, 2012. Remember to use negative signs with your credit balance answers in the Dr(Cr) columns. (c) Present the consolidated balance sheet, in good form, at the date of acquisitionStep by Step Solution
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