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Please Show Work The companies ABC and MNO's balance sheet on Dec 31, 2019 are below: ABC Current assets $6,300 Current liabilities Net fixed assets
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The companies ABC and MNO's balance sheet on Dec 31, 2019 are below: ABC Current assets $6,300 Current liabilities Net fixed assets $11,000 Long-term debt Equity $5,800 $2,500 $9,000 MNO Current assets Net fixed assets Total $2.500 Current liabilities $4.000 Equity $6.500 Total $1,800 $4,700 $6,500 The fair market value of the fixed assets of MNO, Inc. is $8,500. ABC paid $13,000 for MNO, Inc. with funds from a long-term debt offering. The purchase method of accounting is used. What is the total amount of debt and equity on the books of ABC after mergerStep by Step Solution
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