On July 1, 20X1, Pushway Corporation issued 100,000 shares of common stock in exchange for all of Stroker Companys common stock. The Pushway stock issued had a market value of $500,000 on the date of the exchange. Following are the July 1, 20X1, pre-acquisition balance sheets of Pushway and Stroker, plus fair value information for Strokers assets and liabilities.

				Stroker
	Pushway			Book Value			Fair Value
Assets
Current assets	$	300,000		$	100,000		$	100,000
Long-term assets		600,000			400,000			470,000
Total assets	$	900,000		$	500,000		$	570,000
Liabilities
Current liabilities	$	200,000		$	50,000		$	50,000
Long-term liabilities		250,000			100,000			120,000
Total liabilities		450,000			150,000		$	170,000
Stockholders' equity
Common stock		300,000			250,000
Retained earnings		150,000			100,000
Total stockholders' equity		450,000			350,000
Total liabilities and equity	$	900,000		$	500,000

Required:

1. Provide the journal entry Pushway recorded for the acquisition of Stroker, assuming Pushway used the acquisition method.
2. What amount will be shown on the July 1, 20X1, consolidated balance sheet for the following:

1. Total assets
2. Total liabilities
3. Total equity

1. Now assume this transaction had been completed prior to the elimination of poolings of interest, and that the pooling method had been used to record the acquisition. Redo requirements 1 and 2.