Question: May show me all the work thanks Problem 2-25 (LO 2-5, 2-6a, 2-6b, 2-8) On May 1, Soriano Co. reported the following account balances along

 May show me all the work thanks Problem 2-25 (LO 2-5,
2-6a, 2-6b, 2-8) On May 1, Soriano Co. reported the following account
balances along with their estimated fair values: Carrying Amount Fair Value Receivables
Inventory Copyrights Patented technology Total assets Current 1liabilities Long-term liabilities 227,400 227,400May show me all the work thanks
75,600 507,000 685,000 75,600 133,000 831,000 $1.267, 000 $1,495,000 $ 172,000 172,000

Problem 2-25 (LO 2-5, 2-6a, 2-6b, 2-8) On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Carrying Amount Fair Value Receivables Inventory Copyrights Patented technology Total assets Current 1liabilities Long-term liabilities 227,400 227,400 75,600 507,000 685,000 75,600 133,000 831,000 $1.267, 000 $1,495,000 $ 172,000 172,000 707,000 100,000 288,000 692,200 Retained earnings Total liabilities and equities $1,267,000 On that day, Zambrano paid cash to acquire all of 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 following information was also available: . Zambrano further agreed to pay an extra $72,200 to the former owners of Soriano only if they meet certain revenue goa's 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. a&b. Prepare Zambrano's journal entries to record the Soriano acquisition assuming its initial cash payment to the former owners was (a) $817,000 & (b) $933100. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list

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