Small ltd on july 1 2019

answered abilities of Rod Lid consisted of the following: ed out of Carrying Amount Fair Value($) ($) ag question Assets Cash 250,000 600,000 Accounts receivable 450,000 500,000 Land 200,000 300,000 Vehicle 00,000 200,000 Accumulated depreciation - 20,000) Vehicle Liabilities Accounts payable 150,000 150,000 Loans 200,000 200,000 Equity Share Capital -@$6 per share 600,000 Reserves 30,000 In exchange for these assets and liabilities, Big Lid agreed to 1- Issue 2 Big Lid shares for every Small Lid Share - Big Lid shares were considered to have a fair value of $3 per share; costs of issue were $1,500 2- Transfer a piece of Land to the former shareholders of Small Ltd - the Land was carried in the records of Big Lid at $200,000 but was considered to have a fair value of $500,000. 3- Pay $3 per share in cash to each of the former shareholders of Small Lid. Big Lid incurred $5000 in costs associated with the acquisition of these net assets. Required: 1. As per the Acquisition Analysis prepared on 01/07/2019, the Goodwill or gain on bargain purchase would be: 2. The Journal entry to record value difference in Land (Ignore Income tax effect) 3. The Journal entry to record costs associated with the acquisition of these net assets 4. The Journal entry to record costs of share issue 5. The Journal entry to record Goodwill or gain on bargain purchase