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On September 1, 2017, Martinez Corporation acquired Aumont Enterprises for a cash payment of $690,000. At the time of purchase, Aumonts balance sheet showed assets
On September 1, 2017, Martinez Corporation acquired Aumont Enterprises for a cash payment of $690,000. At the time of purchase, Aumonts balance sheet showed assets of $640,000, liabilities of $250,000, and owners equity of $390,000. The fair value of Aumonts assets is estimated to be $850,000. Compute the amount of goodwill acquired by Martinez.
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