Question
Brief Exercise 12-05 On September 1, 2020, Bramble Corporation acquired Marin Enterprises for a cash payment of $700,000. At the time of purchase, Marin's balance
Brief Exercise 12-05
On September 1, 2020, Bramble Corporation acquired Marin Enterprises for a cash payment of $700,000. At the time of purchase, Marin's balance sheet showed assets of $640,000, liabilities of $190,000, and owners' equity of $450,000. The fair value of Marin's assets is estimated to be $830,000.
Compute the amount of goodwill acquired by Bramble.
Value assigned to goodwill$
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
