This posting addresses how to account for goodwill.

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• Journal entries recording employee admission

  Under this method, the goodwill is recorded, and the capital accounts of the partners responsible for creating the goodwill are credited." The following posting helps with problems involving journal entries that record employee admission.

• Accounting - Theoretical and Practical Questions

  How will Springhill account for the impairment of the goodwill? b. Prepare the journal entry to record the permanent impairment of goodwill. 7. CJ's Pizza purchased a delivery van on January 1, 2011, for $25,000.

• How does goodwill arise and reported on the balance sheet

  Regardless of what it is, the buyer was willing to pay more for the company than the fair value of the assets, and that value is assigned to the account called 'Goodwill'.

• Current Assets in Cash Management Strategies

  This thing will increase goodwill in front of creditors. In future, the companies will get more interest free credit from the creditors. Thus it is better to get interest free credit than credit with interest.

• Equity Method, Goodwill Impairment, Consolidated Incomes, Balances and Statements

  How would this answer change is the partial equity method had been in use? How would this answer change if the equity method had been in use? 18.

• Allocation of purchase price; depreciation recapture on sale

  How does the 2010 tax return reflect this change in business use A.

• Contributions for Different Methods

  Example: The journal entries of contribution made a partner under Goodwill method is as follows: Cash Account Dr $100,000 Goodwill Account Dr $60,000 To Peter's Account $80,000 To Fraeddy's Account $80,000 Selection of Method: In my opinion

• How do you account for financial losses in order to maintain

  451651 How do you account for financial losses in order to maintain quality customer service, for example, a restaurant that gives a free meal to an upset customer or a company that gives repeat customers a discount?

• Recording and Amortizing Intangibles

  Hope this help, good luck with your classes, Suzanne The theory and practice of determining the amortization of certain intangibles such as goodwill and patents, including the method of creating journal entries for recordong amortization and how to

• Admission of a New Partner: Goodwill

  Thanks for using Brainmass.com. This solution first provides an explanation of what a partnership is, as well as what goodwill is.