(Answered) 1 on september 1 2010 winans corporation acquired amount

Accounting

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.

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