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Godwillllll

pallavi (article) (187 Points)

06 October 2012

whats is godwill privately paid ....why its called privately paid...???...i

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4 Replies

Shubham kumar (.) (620 Points)
Replied 06 October 2012

When goodWill is paid outside Business, then it's called goodwill is paid privately paid. no entry Is passed for this Transaction.

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Shubham kumar (.) (620 Points)
Replied 06 October 2012

when goodwill is paid outside business then it's called goodwill is Privately paid.

ANJALI NEGI (Chartered Accountant) (1263 Points)
Replied 06 October 2012

Private paid Goodwill means when the goodwill is paid to the partner then no journal entries are made for it. Privately paid Goodwill is not recorded in the Books.

archana bakshi (Student) (227 Points)
Replied 11 October 2012

does it mean paying under the table??wht does it exactly mean?..So many thngs can be paid privately by the incoming partner during hs admission and all should hv the same treatment(i.e. no journal entry passed),wt's so special wd goodwill?