What is Goodwill? If it is treated as asset in
Balancesheet then what is on its opposit side i.e.
liability side.
Answer Posted / fahmeeda banu
Goodwill is the Reputation of the Company Coz of its
Quality and Good name earned in the market ... some times
goodwill is purchased by the company , It is an Intangible
asset.
Goodwill is always entered in the Asset side of Balance
sheet Under the head Fixed Assets , it is treated as an
fixed asset , if it is purchased its value is written off
per year .
It no where appears in the Liability of side of balance
sheet coz it is treated as an asset ... if so purchased
then can written off in debit side of profit and loss
account.
Is This Answer Correct ? | 15 Yes | 2 No |
Post New Answer View All Answers
Expand-------URM
how to pass journal entry or where to show forein transaction reserv in Bal sheet. pls explain basic
Expand-------------BRTS
what is sales life cycle???
EXPAND_________SEB
differed tax liability
what are valuation accounts?
what is cc limit and what role accountant play to maintain it?
Sales for ABC Company were Rs.150,000 for 2003.The beginning inventory was 30% of the cost of goods sold.The ending inventory was 50% of the beginning invetory.Selling expenses were 10% of sales and absorbed 30% sales.Income taxes were 30% of net income before taxes.
Deposited Rs 25000 in Canara Bank of ABC co towards dealership deposit thru our SBH Bank Pass necessary entry
Dear Friends, Please help me with the below, I am new to the current company and newly accountant. My question is, In Balance sheet, Cash in Drawer is showing excess amount and I could not tally it with sales. Please guide me how do I need to tally CASH IN DRAWER? I don't want to reconcile. I only want to tally. Please help. Thanks in advance.
AT THE TIME OF REDEMPTION OF DEBENTURES. WHEN THERE IS PROFIT/LOSS ON SALE OF DEBENTURES WE TRANSFER THAT AMOUNT IN PROFIT AND LOSS A/C BUT WHEN WE CANCEL OUR DEBENTURES AFTER BUYING IT FROM OPEN MARKET THE DIFFERENCE BETWEEN MARKET VALUE AND COST OF DEBENTURES TRANSFER TO "CAPITAL RESERVE ACCOUNT .. WHY SO ANY PRACTICAL ANSWER ??
commisiion recieved journal entry and receipt required
plz send me hsbs finance questions asked in the interview ans appitude also
what is Derivative Documentation,Derivative Settlements,Derivative confirmation?