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what is good will and what are the different types of good
will
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Answer / g.naga raju
good will is an intangible asset
1.purchase good will
2.self generated good will
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / rakeshyadav
good will is a name and fame of the company and its a
intangible asset
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / jahnavi
goodwill is an goodname or reputation of business, over and
above the tang able or concrete assets which helps to earn
super profit
types of goodwill
1.Rat goodwill
2.cat goodwill
3.dog goodwill
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / harsha
Good will is intangible, it is company reputations
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / raghumohan kamtekar
Good will is current asset which we cant to see ,it is brand value of the company.
Good will very easy to think,but difficult to define.Good will
is a "Intangible asset".
Good will can be classified in to two types:
1.purchase good will(acquired by making a payment)
2.self generated good will(it arises the no.of attributes)
| Is This Answer Correct ? | 5 Yes | 3 No |
Answer / zubair_glad24@yahoo.com
Hi Deepali
How are you?
I will explain you in one sentence
market value of the company is called goodwill.
Mohammed Zubair
| Is This Answer Correct ? | 5 Yes | 3 No |
Answer / samrat
good will is an intangible asset which cant be seen and
touched but can be felt
in other words goodwill is name/fame earned by the company
example: britania rebok levis etc
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / venki
Goodwill is an intangible fixed asset, But acording to
modran accounting Goodwill never calculated. for example
Methid to calculate Good will is
)- super profit method,etc...
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / s.narasimharao
good will is nothing but intangible. we cant see . like
trade mark
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / harpreet kaur
Type of goodwill
Dog goodwill
Rat goodwill
Cat goodwill
Rabit goodwill
| Is This Answer Correct ? | 11 Yes | 9 No |
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Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
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Audit 
