QUESTION 5 Pacquires the following assets and liabilities of an existing company S. The fair values of assets and liabilities are given below Cash and Receivables Inventory Land Plant and Equipment Accounts Payable 50,000 200,000 100,000 300,000 50,000 Pissues bonds payable with a fair value of 610,000 (par value $540,000) in exchange for the assets and liabilities acquired, To record the acquisition journal entry in the books of P, goodwill will be Debited with $20,000 Goodwill will not be recorded as the fair value of bonds is less than the fair value of total assets Credited with $30,000 Debited with $10,000 QUESTION In the acquisition journal entry in the books of P. Premium on bonda payable will be credited with 330,000 Discount on bonds payable will be credited with $10.000 Discount on bonds payable will be debited with $30,000 Puuman body webwin 50.000 QUESTION 7 It is given that the market value of the ca 100.000, market value of the bei 610.000. ook value of the net 10.000, and porn the 70.000. What is the impled value of goodw? 20.000 $50,000 $10.000 $70,000 10 points