Bold Ltd acquired all the assets and liabilities of Shark Ltd on 1 July 2019. At this date, the assets and liabilities of Shark Ltd consisted of the following: Carrying Amount Fair Value Assets Cash 250,000 600,000 Accounts receivable 450,000 500,000 Land 200,000 300,000 Vehicle 100,000 200,000 Accumulated depreciation -Vehicle (20,000) Liabilities Accounts payable 150,000 150,000 Loans 200,000 200,000 Equity Share Capital 100 000 shares 600,000 Reserves 30,000 In exchange for these assets and liabilities, Bold Ltd agreed to: Issue two (2) Bold Ltd shares for every Shark Ltd Share Bold Ltd shares were considered to have a fair value of $3 per share; costs of issue were $1,500 Transfer a piece of Land to the former shareholders of Shark Ltd the Land was carried in the records of Bold Ltd at $200,000 but was considered to have a fair value of $500,000. Pay $3 per share in cash to each of the former shareholders of Shark Ltd. Bold Ltd incurred $5000 in costs associated with the acquisition of these net assets. Required: a) As per the Acquisition Analysis prepared on 01/07/2019, calculate goodwill or gain on bargain purchase. b) Provide journal entry to record value difference in Land. (Ignore Income tax effect) c) Provide journal entry to record costs associated with the acquisition of these net assets. d) Provide journal entry to record costs of share issue. e) Provide journal entry to record Goodwill or gain on bargain purchase.