Business, 18.09.2019 04:30, goldenrizo
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 $20,000. at december 31, 2018, zee company's accounts show interest expense of $12,000 and long-term debt of $250,000. 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? interest expense long-term debta. $14,500 $270,000b. $14,500 $267,500c. $9,500 $270,000d. $9,500 $267,500
Answers: 2
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On january 1, 2018, jay company acquired all the outstanding ownership shares of zee company. in ass...
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