On September 1, 2015, Winans Corporation acquired Aumont Enterprises for a cash payment of 700,000. At the

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On September 1, 2015, Winans Corporation acquired Aumont Enterprises for a cash payment of £700,000. At the time of purchase, Aumont’s statement of financial position showed assets of £620,000, liabilities of £200,000, and 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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Intermediate Accounting IFRS Edition

ISBN: 9781118443965

2nd Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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