Exercise 8-20A Computing and recording goodwill LO 8-10 Arizona Corp. acquired the business Data Systems for $325,000 cash and assumed all liabilities at the date of purchase. Data's books showed tangible assets of $350,000, liabilities of $20,000, and stockholders' equity of $330,000. An appraiser assessed the fair market value of the tangible assets at $315,000 at the date of acquisition Arizona Corp's financial condition just prior to the acquisition is shown in the following statements modek Assets Liab. Equity Rev. Exp. Net Inc. Cash Flow Cash + Tang. Assets Goodwill 550,000 NA NA 550,000 NA NA 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. Goodwill Required > Exercise 8-20A Computing and recording goodwill LO 8-10 Arizona Corp. acquired the business Data Systems for $325,000 cash and assumed all labilities at the date of purchase. Data's books showed tangible assets of $350,000, liabilities of $20,000, and stockholders' equity of $330,000. An appraiser assessed the fair market value of the tangible assets at $315,000 at the date of acquisition. Arizona Corp's financial condition just prior to the acquisition is shown in the following statements model: Assets Liab. Cash Equity Goodwill Rev. Exp. Net Inc. Cash Flow Tang. Assets + 550,00 NA NA NA + 550,000 NA NA NA NA Required: a. Compute the amount of goodwill acquired. . Record the acquisition in a financial statements model like the preceding one. d. Record the acquisition in general Journal format ce Complete the question by entering your answers in the tabs below. Required A Required B Required Record the acquisition in a financial statements model like the preceding one. (In the Cash How column, use the initials OA to designate operating activity, IA for investing 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 Expenses Net Income Cash Flow Assets Tang Assets Cash Goodwill - 550.000 550.000 NA Acquisition -K Journal entry worksheet