arizona corp. acquired the business data systems for $320,000 cash and assumed all liabilites at the data of purchase.  data's books showed tangible assets of $340,000, liabilities of $19,000, and stockholders' equity of $321,000. an appraiser assessed the fair market value of the tangible assets at $310,000 at the data of acquisition. a. compute the amount of goodwill acquired. b. record the acquisition in a financial statements model.  Arizona corps. financial condition just prior to the aquistion is shown in the following statements model. cash paid- liabilites assumed- total-  FMV of assets- goodwill-

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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arizona corp. acquired the business data systems for $320,000 cash and assumed all liabilites at the data of purchase.  data's books showed tangible assets of $340,000, liabilities of $19,000, and stockholders' equity of $321,000. an appraiser assessed the fair market value of the tangible assets at $310,000 at the data of acquisition.

a. compute the amount of goodwill acquired.

b. record the acquisition in a financial statements model.  Arizona corps. financial condition just prior to the aquistion is shown in the following statements model.

cash paid-

liabilites assumed-

total- 

FMV of assets-

goodwill-

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