on..2018. Norinco purchases XYZ.Co. by puring her net eets for a cut payment of $298.000 wo wriche auto wa... www.news date and the corresponding for market values Aarnet Cuan 500.000 500.000 Accounts receivable (net of $15.000 aftowance) 00.000 00.000 inventory 00.000 4000 Land 50.000 48.000 Building inet of $10.000 accumulated depreciation 0.000 62.000 Machinery (net of $18,000 acumulated depreciation) 140.000 150.000 Trademark (net of $25,000 accumulated amortization) 0.000 0.000 Tocal assets 549.000 1461.000 Liabilities and Shareholders' Equity Accounts payable $165.000 $165.000 Common shares 324 000 Total $489,000 Enter an appropriate description when entering the transactions in the journal Dates must be entered in the format dimme January 15 would be 15. Pe your are accurate to 2 decimal places Ca) Record the July 1, 2015 entry for North Co. Canal Journal Page Date Account Explanation PR Debe Credit On December 31, 2015, North Co tests its goodwill for impairment. It is determined that the fair value of goodwill is now $12.000 Record any necessary entries on that del General Journal Page og Account Explanation PR Debit Credit stion the only payment required by NorthCo was $255,000 cash. After a reassessment of all the vanabis, vals and measure Question 15 (25 points) on July 2015. Norinco purchased XYZ.Co by acquiring their net assets for a canh payment of 5266,000 and a noto payable et $65.000 Below is the one hand of XzContent date, and the corresponding fair market values Asus Cash $60,000 $60.000 Accounts receivable (net of $15,000 wlowance) 60.000 50,000 Inventory 00,000 84,000 Land 50,000 48.000 Building (net of $1.000 accumulated depreciation) 80,000 02.000 Machinery inet of $18,000 accumulated depreciation) 140,000 130.000 Trademark (net of $25.000 accumulated amortization) 9,000 0.000 Totalt 3480.000 1461,000 abies and Shareholders' Equity coounts payable $165.000 $165.000 Common shares 324.000 $489,000 or an appropriate description when entering the transactions in the journal Dates must be entered in the format admim (January 15 would be 15). Pese make sure your final accurate to 2 decimal places Record the July 1, 2015 entry for Northco. Generar uma Pape Account Explanation PR Debit Credit un determined that the fair value of goodwill is now $12.000. Record any necessary entries on that date (a) Record the July 1, 2015 enviry for Northco Da au Petit Credit (b) on December 31, 2016. Northcotests its goodwill for impairment. It is determined that the fair value of goodwill is now $12.000 Record nyertes en da. General Journal Date Account/Explanation PRD c) Assume that instead of paying a total of $320,000 for the acquisition, the only payment required by NorthCo was $255,000 cash. After a reassessment of the variable values and met Srocedures, how would NorthCo classify the bargain purchase or negative goodwill? North Co would (select one)