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Arizona Corporation acquired the business Data Systems for $320,000 cash and assumed all liabilities at the date of purchase. Data's books showed tangible assets of
Arizona Corporation acquired the business Data Systems for $320,000 cash and assumed all liabilities at the date of purchase. Data's books showed tangible assets of $260,000, liabilities of $40,000, and stockholders' equity of $220,000. An appraiser assessed the fair market value of the tangible assets at $250,000 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 financial statements model. Complete this question by entering your answers in the tabs below. Compute the amount of goodwill acquired. Arizona Corporation acquired the business Dota Systems for $320.000 cash and assumed al sablites at the date of purchase. Dator books thowed tangible assets of 5260,000 , labilites of 540.000 and stoch holders equity of 5220000 An apgraiser asseised the fair market value of the tang ole assets at 5250.000 at the date of acquisition. Required: a. Compute the amount of goodwill acquied b. Pecoed the acrsuhition in a financial stateinents modet: Arizona Corp's finmencial condion just prion to the acquition is showe in the financial statements model. Cemplete this questien bry entering rour anbwers in the tabs below
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