give me the entries of incorporation exp
Goodwill A/c Dr.
To Equity Share Capital
as per as 10 when we giving consideration to the promoters what is the problem
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incorporation exp
Replies (2)
Dear Prateek,
GOODWILL CANNOT BE RECOGNISED IN THIS MANNER.
INCORPORATION EXPENSES DOES NOT CONSTITUES GOODWILL
INCORPORATION EXPENSES CAN BE REIMBURSED TO PROMOTERS AND AGAINST THAT MONEY SHARES CAN BE ISSUED TO THEM BUT IT CAN NEVER BE TREATED AS GOODWILL..
INCORPORATION EXPENSES CAN WRITTEN OFF IN BOOKS OVER A PERIOD AND SO LONG NOT WRITTEN OFF IT WILL COME UNDER "MISC. EXPENDITURE"
And incorporation Exp can be write off as create preliminary exp A/c from the books.....
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