In Progress On September 1, 2025, Sheffield Corporation acquired Shamrock Enterprises for a cash payment of $780,000. At the time of purchase, Shamrock's balance sheet showed assets of $580,000, liabilities of $230,000, and stockholders' equity of $350,000. The fair value of Shamrock's assets is estimated to be $760,000. Compute the amount of goodwill recorded by Sheffield in the acquisition. Value assigned to goodwill $ 250,000

On September 1,2025, Sheffield Corporation acquired Shamrock Enterprises for a cash payment of $780,000. At the time of purchase, Shamrock's balance sheet showed assets of $80,000, liabilities of $230,000, and stockholders' equity of $350,000. The fair. value of Shamrock's assets is estimated to be $760,000. Compute the amount of goodwill recorded by Sheffeld in the acquisition. Value assigned to goodwill