Question: On September 1 , 2 0 2 3 , Winans Corporation acquired Aumont Enterprises for cash payment of $ 8 0 0 , 0 0

On September 1,2023, Winans Corporation acquired Aumont Enterprises for cash payment of $800,000. At the time of purchase Aumonts balance sheet showed net assets of $620,000 whereas the fair value of Aumonts net assets was estimated to be $640,000. Therefore Winans will record a goodwill of $180,000 from the acquisition true or false.

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