Question Completion - On 1/1/2022 Green Company purchased Norzalin Company for $450,000 cash. The following is the statement of financial position on the date of purchase Norzalin Company Statement of Financial Position On 1 January 2022 Land 50.000 Capital 350.000 Copyrights 150,000 Share premium 20.000 Inventories 100,000 130,000 Total Assets 500,000 Total equity & 500,000 Liabilities Toan Additional Information: - Land is undervalued by 50,000 - Inventories are overvalued by 20,000 Question Completion Status Additional Information: - Land is undervalued by 50,000 - Inventories are overvalued by 20,000 Answer the following questions: 1- Is there any goodwill in this purchase? Yes/No (Half mark) 2- If yes, how much this goodwill? (One mark) 3- In the journal entry, goodwill should be in which side? Debit/Credit (Halfmark) For the toolbar, press ALT F10 (PC) or ALTHEN F10 (Mac) B! Us Paragraph Arial 10pt BE 101 WOON POWERED BY TINY