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Acquisition Entries, Acquisition Costs, Bargain Gain Plastic Corporation is contemplating a business combination with Steel...

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Acquisition Entries, Acquisition Costs, Bargain Gain Plastic Corporation is contemplating a business combination with Steel Corporation at December 31, 2021. Steel's condensed balance sheet on that date appears below: Required Prepare the journal entry to record the business combination of Plastic and Steel for each of the following acquisition costs and combination methods. (a) Plastic acquires Steel as a merger for $250,000 cash. Other direct cash acquisition costs are $20,000. (b) Plastic acquires Steel as a merger for $85,000 cash. Other direct cash acquisition costs are $5,000. (c) Plastic acquires all of Steel's stock for $275,000 cash, in a stock acquisition. Other direct cash acquis riease answer all parts or tne

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