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J/e

This query is : Resolved 
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(Querist)
10 October 2013 Plz...let me the journal entry when shares are issued to promoters of a co. is it : goodwill a/c dr. To eq. sh. cap. a/c
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
10 October 2013 Yes, its correct..

Goodwill account is debited on the assumption that promoter’s function has resulted in forming the company into profitable unit.
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Sanket

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Sanket (Expert)
10 October 2013 Goodwill a/c......Dr. ***** To share capital *****
To securities premium *****
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