Business, 24.09.2019 01:00 ewaltz74

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?

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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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