What is the goodwill, how it will be calculeted.can
Goodwill posted on laibiltes side Balance sheet.
Answer Posted / subrat kumar
Goodwill is a intangible asset.We cant see it or touch it.
Calculate of Goodwill the help of below two method.
1. Average profit method
2.Super profit method
We cant shown it in liabilities side. Becasue Its
Intangible asset.
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in our co we are sales of good to branch in order sales+fright, branch made jv entry in own book as full amount debit and credit. now our book show sales without freight but branch shows including freight that why differences is arise due to wrong entry passes pls clarify this entry and this entry is done last year book now balance is finalize.
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Opening stock 17499565 purchses 89693855 expanditure 1735800 deprciation 223309 patner salary 300000 interst paod 937500 provisions 119265 sales 91600120.adjustment 1 gross profit is 6.72percentage on sales.2.net profit is 3.10 percent on sales
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