On January 2, 2013 Piron Corporation issued 100,000 new shares of its $5 par value common stock valued at $19 a share for all of Seana Corporation's outstanding common shares. Piron paid $15,000 to register and issue shares. Piron also paid $20,000 for the direct combination costs of the accountants. The fair value and book value of Seana's identifiable assets and liabilities were the same. Summarized balance sheet information for both companies just before the acquisition on January 2, 2013 is as follows:

Part 1: Prepare Piron's general journal entry for the acquisition of Seana, assuming that Seana survives as a separate legal entity.
Part 2: Prepare Piron's general journal entry for the acquisition of Seana, assuming that Seana will dissolve as a separate legal entity

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Piron $150,000 320,000 500,000 350,000 Seana Cash Inventories Other current assets S120,000 400.000 500,000 250,000 4,000,000 ,500,000 S5,320.000 S2,770,000 an Plant assets-net Total assets Accounts payable Notes payable Capital stock, S5 par Additional paid-in capital Retained earnings Total liabilities & equities $1,000,000 1.300.000 2,000,000 1,000,000 $300,000 660.000 500,000 100,000 20.0001,210,000 $5,320,000 S2,770,000