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does goodwill depreciates ?
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Answer / venkat
No,it is an intangible asset and thus can't be depreciable.
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Answer / sachin
dear venkat
it will depreciates but it called as amertaisation.
Ex: Sathyam's Good Will
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As per AS-14 Goodwill that is purchased should be written
off & such written off is called Amortization.
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paid vendor to RS 15000 and incentives of RS.5000 and deducted Rs.3000 as penalty so finally paid to vendor is Rs.17000. please let me know the journal entry for this.
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