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:

In addition, Acme paid an investment bank $$29,200$ cash for assistance in arranging the combination.

Requlred:

a$.$ 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 $$668,400$ and $$457,400$ were paid to the

former owners of Brem.

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

acquisition method?

Note: If no entry ls requlred for a transaction$/$event$,$ select $"$No journal entry requlred" In the first account fleld.

Journal entry worksheet

Record the acquisition of Brem using the purchase method assuming $$668,400$

was paid to the former owners of Brem.

Note: Enter debits before credits.