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Arizona Corporation acquired the business Date Systems for $320,000 cash and assumed all liabilities at the date of purchase. Data's books showed tangifle assets of

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Arizona Corporation acquired the business Date Systems for $320,000 cash and assumed all liabilities at the date of purchase. Data's books showed tangifle assets of $260,000, Habilities 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. Arizona Corporation's financial condition just prior to the acquisition is shown in the following statements model. Required a. Compute the amount of goodwill acquired: b. Record the acquisition in a financial statements model like the preceding one. Complete this question by entering your answers in the tabs below. Record the acoulsition in a finandat statements model. Record the acculsition in a financiat statements model. Note: In the Statement of Cash flows column, use the initials OA for opereting octivities, FA for financing activities, or tA for investing activity. Enter any cash outflo with a minus sion. Leave cells blank it no input is needed

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