Arizona Corp acquired the business Data Systems for $290,000 cash and assumed all liabilities at the date of purchase Datas books showed tangible assets of $280,000, liabilities of $13,000, and stockholders equity of $267,000 An appraiser assessed the fair market value of the tangible assets at $280,000 at the date of acquisition Required a Compute the amount of goodwill acquired b Record the acquisition in a financial statements model Arizona Corp s financial condition just prior to the acquisition is shown in the following statements model a Compute the amount of goodwill acquired (Amounts to be deducted should be indicated with minus sign ) Acquisition Price Cash paid Liabilities assumed Total FMV of assets Goodwill b Record the acquisition in a financial statements model Arizona Corp s financial condition just prior to the acquisition is shown in the following statements model (In the Cash Flow column, use OA to designate operating activity, IA for investment activity, and FA for financing activity Enter any decreases to account balances and cash outflows with a minus sign Not all cells in the Statement of Cash Flows column may require an input leave cells blank if there is no corresponding input needed ) Show less ARIZONA CORP Horizontal Statements Model Event Balance Sheet Income Statement Statement of Cash Flows Assets Liabilities Equity Revenue Expense Net Income Cash Assets Goodwill 480,000 480,000 Acquisition

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Posted on Sep 11, 2024

Arizona Corp. acquired the business Data Systems for $290,000 cash and assumed all liabilities at the date of purchase. Datas books showed tangible assets of

Arizona Corp. acquired the business Data Systems for $290,000 cash and assumed all liabilities at the date of purchase. Datas books showed tangible assets of $280,000, liabilities of $13,000, and stockholders equity of $267,000. An appraiser assessed the fair market value of the tangible assets at $280,000 at the date of acquisition. Required a. Compute the amount of goodwill acquired. b. Record the acquisition in a financial statements model. Arizona Corp.s financial condition just prior to the acquisition is shown in the following statements model.

Compute the amount of goodwill acquired. (Amounts to be deducted should be indicated with minus sign.)

Acquisition Price
Cash paid.
Liabilities assumed
Total.
FMV of assets
Goodwill

Record the acquisition in a financial statements model. Arizona Corp.s financial condition just prior to the acquisition is shown in the following statements model. (In the Cash Flow column, use OA to designate operating activity, IA for investment activity, and FA for financing activity. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells in the "Statement of Cash Flows" column may require an input - leave cells blank if there is no corresponding input needed.)

Show less