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Arizona Corporation acqulred the business Data Systems for $305,000 cash and assumed all liabilitles at the date of purchase. Data's books showed tangible assets of

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Arizona Corporation acqulred the business Data Systems for $305,000 cash and assumed all liabilitles at the date of purchase. Data's books showed tangible assets of $310,000, liobilities of $16,000, and stockholders equily of $294,000. An appraiser assessed the fair market value of the tanglble assets at $295,000 and liabilities at $16,000 at the date of acquisition. Arizona Corporation's financial condition just prior to the acquisition is shown in the following statements model. Required b. Compute the amount of goodwill acquired. b. Record the acquisition in a financial statements model. Arizona Corporation's financial condition just prior to the acquisition is shown in the financial statements model. d. Record the acquisition in general journal format. Record the ocquisition in a financial statements model. Arizona Corporation's financial condition just prior to the acquisition is shown in a horizontal statements model, (tin Cash Hows column, use the initials OA to designate operating activity, IA for investing activity, and FA for financing activity. Leave blank to indicake that an element is not a event. Enter any cecreases to account balances and cash outflows with a minus sign.) (x) Answer is not complete. Complete this question by entering your answers in the tabs below. Record the acquisition in general journal format, (If no entry is required for a transaction/event, select "No journal entry required in the first account field.)

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