On September 1, 2017, Blue Spruce Corporation acquired Tunneling Limited for a cash payment of...
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Accounting
On September 1, 2017, Blue Spruce Corporation acquired Tunneling Limited for a cash payment of $949,500. At the time of purchase, Tunnelings statement of financial position showed assets of $773,000, liabilities of $455,600, and owners equity of $317,400. The fair value of Tunnelings assets is estimated to be $1,168,900. Calculate the amount of goodwill acquired by Blue Spruce.
| Goodwill acquired by Blue Spruce | $_____________ |
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