Journal entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 May 2014
mr. A acquired running business for cash rs 150000.
07 May 2014
Assets A/c Dr
Goodwill A/c Dr
(if cash paid plus liabilities acquired exceed assets acquired)
To Cash A/c cr
To liabilities Cr
To Capital Reserve (if assets acquired exceed cash paid plus Liabilities acquired)
Goodwill A/c Dr
(if cash paid plus liabilities acquired exceed assets acquired)
To Cash A/c cr
To liabilities Cr
To Capital Reserve (if assets acquired exceed cash paid plus Liabilities acquired)
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