what is the accounting entry for fictitious asset

Answers were Sorted based on User's Feedback



what is the accounting entry for fictitious asset..

Answer / trupti r.mahindrakar

Goodwill is one of the fictitious asset & its accounting
entry will be
Goodwill A/c.....Dr.
To, company, individual(PARTNER), firm.

Is This Answer Correct ?    7 Yes 5 No

what is the accounting entry for fictitious asset..

Answer / joseph

Debit Fictitious Asset and Credit the Capital
Example Goodwill

Goodwill Debit
To Partner

Is This Answer Correct ?    12 Yes 11 No

what is the accounting entry for fictitious asset..

Answer / yeah

In banking since a loan is an asset w/o consideration
through fractional banking is a fititios asset. Since
there's no real tangible asset to back money (credit) made
through a book keeping antry

Is This Answer Correct ?    3 Yes 2 No

what is the accounting entry for fictitious asset..

Answer / ipshita

Goodwill dr
To shares/cash(any consideration paid)

Is This Answer Correct ?    6 Yes 6 No

Post New Answer

More Audit Interview Questions

What is fictitious assets?

1 Answers   Axcend, Prime CA,


what is the entry for accrual expense and accrual income. And how they are treated. Thanks.

3 Answers   Cap Gemini,


an auditor gave his report and later he found an material misstatement in the financial statements regarding the period for which he gave report.now he is willing to change his opinion.is it possible.

2 Answers  


A Pvt Company take Unsecured Loan from Partnership Firm .What are the Auditor's reporting requirement under CARO U/S 227(4A)?

3 Answers  


what is Voucing?

2 Answers   ABC,






Why do you choose Ernst and Young ?

0 Answers   Ernst Young,


Define Materiality Concept

7 Answers  


Give an example of a time when you had to go out of your way to help someone ?

0 Answers   Ernst Young,


Expand---------PRSM

1 Answers  


Tell me about a time you led a team?

0 Answers   Ernst Young,


what is the time of pf return, and how can calcualte the pf inertest.

1 Answers  


What is Esi ,Pf,and Payroll?

2 Answers  


Categories