Assume that the following balance sheets are stated at book value. The fair market value...
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Accounting
Assume that the following balance sheets are stated at book value. The fair market value of James's fixed assets is equal to $9,300. Jurion pays $16,000 for James and raises the needed funds through an issue of long-term debt.
Jurion Co.
Current assets
$
12,000
Current liabilities
$
5,300
Net fixed assets
36,000
Long-term debt
9,800
Equity
32,900
Total
$
48,000
Total
$
48,000
James, Inc.
Current assets
$
3,400
Current liabilities
$
1,300
Net fixed assets
6,400
Long-term debt
1,900
Equity
6,600
Total
$
9,800
Total
$
9,800
Construct a postmerger balance sheet assuming that Jurion Co. purchases James, Inc., and the purchase method of accounting is used. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Jurion Co., post-merger
Current assets = ______________
Current liabilities = ______________
Fixed assets = ______________
Long-term debt = ______________
Goodwill = ______________
Equity = ______________
Total = ______________
Total = ______________
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