Osicom Tech is acquiring Rexon 's outstanding common stock for $55 million Before acquisition financial information on these two firms is given as follows (in $ millions) Osicom Tech Rexon Total assets $280 $70 Liabilities 80 30 Stockholders ' equity 200 40 What are the total assets and stockholder...

If the purchase method is used for the merger the acquiring company Osicom Tech will record the acqu ...

Osicom Tech is acquiring Rexon's outstanding common stock for $55 million. Before acquisition financial information on these

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Osicom Tech is acquiring Rexon's outstanding common stock for $55 million. Before acquisition financial information on these two firms is given as follows (in $ millions):

	Osicom Tech	Rexon
Total assets	$280	$70
Liabilities	80	30
Stockholders' equity	200	40

What are the total assets and stockholders' equity (in $ millions) if the purchase method is used as the accounting method for this merger?

Related Book For answer-question

Advanced Accounting

ISBN: 978-0077431808

10th edition

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

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Posted Date: May 11, 2023 01:18 AM

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