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What is Goodwill? If it is treated as asset in
Balancesheet then what is on its opposit side i.e.
liability side.
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Answer / 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 |
Answer / ashish
goodwill is extra earning capacity of a company.
it may possible u genrate goodwill from ur quality product
or service or it may also possible comapany hv purchased it
by this way u hv to pay 4 that in cash for that goodwill.
through purchase of goodwill ur creditor will increase.
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / vinay valmiki
Good will: good name or reputation of an organisation it
earn extra amount of profit to the company
It appears in the Balance Sheet only if it is purchaesd
along with the business's other assets
and there is no opposite effect of it on the liability side
Logically : you will buy good name/ Reputation
You dont buy opposit of it
| Is This Answer Correct ? | 10 Yes | 4 No |
Answer / jayashree
Goodwill is an intangible asset valued according to the advantage or reputation a business has acquired (over and above its tangible ...
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / anand n r hassan
Good will: good name or reputation of an organisation it
earn extra amount of profit to the company
i dont know the...... opposit side i mean liability side
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / gohar ali pugc
Good Will is nothing else but "A COMPANY REPO"
co create its good will by creating good & reliable
cusomer/consumer.a co generate more profit due to its good
will in the market,A better co is that who purchased raw
material on credit and sell it on cash butt this is posible
when a company has its good will.and there is no treatement
in balance sheet.
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / vinay srivastava
good will is the reputation of the company by which, a
company generate extra money other than oprating revanue of
the company. it is an infictious assets, which is shown in
assets side of the balance sheet under head of fixed assets.
its opposit side in liability side in balance sheet is
shown as reserve.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / shalini
Goodwill is one of the kinds of investment and an Asset. It
may be invested in the way of cash, Article and reputation
of the business.
| Is This Answer Correct ? | 6 Yes | 8 No |
Answer / sourabh
IT DEPAND IF COMAPNY A PURCHASE SOME GOODWILL IT IS TREATED
AS ASSES IN BALANCE SHEET & U PAY FOR THAT GOODWILL THEN
REVENUE OR RESV INCREASE IF R NOT PAYING THEN YOUR CRDTR
INCREASE
| Is This Answer Correct ? | 4 Yes | 7 No |
Answer / niks
Goodwill gets generated when PC > assets taken over at point
of purchase of other organisation.
If, PC<assets taken over, it's Capital Reserve. So, my
answer is 'Capital Reserve'
Or in case of partnersjip firm
it wud be raised by crediting capital accounts of paertners
| Is This Answer Correct ? | 0 Yes | 4 No |
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