Consolidated Balance Sheet Working Paper, Bargain Purchase On January 1,2022, Paxon Corporation acquired all of...
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Consolidated Balance Sheet Working Paper, Bargain Purchase On January Paxon Corporation acquired all of the outstanding common stock of Saxon Company for $ billion cash. Paxon uses the complete equity method to report its investment. The trial balances of Paxon and Saxon at December are shown below: DrCrin millions Paxon Saxon Cash and receivables $ $ Inventory Equity method investments Investment in Saxon Land Buildings and equipment net Current liabilities Longterm debt Common stock, par value Additional paidin capital Retained earnings, January Dividends Sales revenue Equity i
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