On that day, Zambrano paid cash to acquire all gf the assets and liabilities of Soriano, which will cease to exist as a separate entity. To facilitate the merger, Zambrano also paid $$115,500$ to an investment banking firm.

The foliowing information was also available:

Zambrano further agreed to pay an extra $$72\mathrm{.}200$ to the former owners of Soriano only $Z$ they meet certain revenue goals during the next two years. Zambrano estimated the present value of its probability adjusted expected payment for this contingency at $$36,100$

Soriano has a research and development project in process with an appraised value of $$243,000.$ However, the project has not yet reached technological feasibility, and the project's assets have no alternative future use.

Required:

$1-$Record the acquisition of Sorieno Company. Assume its intial cash payment to the former Owners was $$817,000.$

$2-$Record the expenses related to the combination. Assume its initial cash payment to the former owners wes $$817,000.$

$3-$Record the ecquistion of Soriano Company. Assume its initial cash payment to the former owners was $$933,100.$

$4-$Record the expenses related to the combination. Assume its initial cash payment to the former owners was $$933,100.$