In a pre$-2009$ business combination, Acme Company acquired all of Brem Company$$s assets and liabilities for cash. After the combination, Acme formally dissolved Brem. At the acquisition date, the following book and fair values were available for the Brem Company accounts:

Items Book Values Fair Values

Current assets $ $69,000$ $ $69,000$

Equipment $141,000220,000$

Trademark $0330,000$

Liabilities $(65,000)(65,000)$

Common stock $(100,000)0$

Retained earnings $(45,000)0$

In addition, Acme paid an investment bank $$32,700$ cash for assistance in arranging the combination.

Required:

Using the legacy purchase method for pre$-2009$ business combinations, prepare Acme$$s entry to record its acquisition of Brem in its accounting records assuming the cash amounts of $$637,300$ and $$439,800$ were paid to the former owners of Brem.

How would these journal entries change if the acquisition occurred post$-2009$ and therefore Acme applied the acquisition method?

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.