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On September 1, 2019, Winans Corporation acquired Aumont Enterprises for a cash payment of 700,000. At the time of purchase, Aumont's statement of financial position
On September 1, 2019, 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 E800,000 Indicate the amount of goodwill acquired by Winans. Explain your calculation and journal entry for goodwill recognition
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