Journal Entries of Goodwill
Channel: Svtuition
Date: 2014-05-17

All type organisations have goodwill asset. It does not show physically but it has the value when we sell or buy any other business. When we buy another company, we have to pay extra amount of goodwill to vendor because vendor has done the same business before us and his reputation has some value because on his company name or his reputation, we can get unsecured loan. So, it is necessary to pass the journal entries of Goodwill.

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