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Compute the amount of goodwill acquired by winans

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1. On September 1, 2010, Winans Corporation acquired Amount Enterprises for a cash payment of $700,000. At the time of purchase, Amount's balance sheet showed assets of $620,000, liabilities of $200,000, and owners' equity of $420,000. The fair value of Amount's assets is estimated to be $800,000. Compute the amount of goodwill acquired by Winans. 

Reference no: EM131114493

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