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Arizona Corp. acquired the business Data Systems for $345.000 cash and assumed all liabilities at the date of purchase. Data's books showed tangible assets of

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Arizona Corp. acquired the business Data Systems for $345.000 cash and assumed all liabilities at the date of purchase. Data's books showed tangible assets of $390,000, liabilities of $24,000, and stockholders' equity of $366,000. An appraiser assessed the fair market value of the tangible assets at $335.000 at the date of acquisition. Arizona Corp's financial condition just prior to the acquisition is shown in the following statements model: Liab + Assets + Tang. Assets. NA Cash 590,000 Equity Rev. Exp. Net Inc. Goodwill NA Cash Flow + - 590,000 NA NA NA Required: a. Compute the amount of goodwill acquired. b. Record the acquisition in a financial statements model like the preceding one. d. Record the acquisition in general journal format. Complete this question by entering your answers in the tabs below. Required A Required B Required D Compute the amount of goodwill acquired. Goodwil Required B Check my work a. compute une amount of you will equireu b. Record the acquisition in a financial statements model like the preceding one. d. Record the acquisition in general journal format. Complete this question by entering your answers in the tabs below. Required A Required B Required D Record the acquisition in a financial statements model like the preceding one. (In the Cash Flow column, use the initials oa to designate operating activity, 1 financing activity, NC for Net Change and NA to indicate the element is not affected by the event. Enter any decreases to account balances with a minus sign ARIZONA CORP Statements Model Liabilities: Equity Revenue Assets Tang Assets Expenses Net Income Cash Flow Goodwill Cash 590.000 590.000 NA Acquisition Journal entry worksheet Record cash paid for acquisition of assets and liabilities. Note: Enter debits before credits. General Journal Event Acquisition Debit Credit Record entry Clear entry View general journal

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