how do we write off goodwill or items of balance sheet from P&L account
1 Replies
Ruchi
(CA)
(1410 Points)
Replied 02 December 2015
Goodwill and such items in balance sheet , benefits of which will accrue over a period of time, should be accordingly amortized over a period of time say 3 or 5 or 7 years.
Simply credit the Goodwill /Asset a/c and debit P & L a/c.
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