On september 1 2012 winans corporation acquired aumont


On September 1, 2012, Winans Corporation acquired Aumont Enterprises for a cash payment of $700,000. At the time of purchase, Aumont’s balance sheet showed assets of $620,000, liabilities of $200,000, and owners’ equity of $420,000. The fair value of Aumont’s assets is estimated to be $800,000. Compute the amount of goodwill acquired by Winans.

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Financial Accounting: On september 1 2012 winans corporation acquired aumont
Reference No:- TGS01006308

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