Answer / abdulrahiman.k.p

over a period of time , afirm on account of variety of
factors , develop an advantage of name and wide business
connections which enable it to earn more profits as
compared to a newly started business .The value of such
advantage is called goodwill

Answer / pramina dahiya

goodwil is a type of intangible asset.at the time of
selling this business whatever extra (more then the
business price)you are getting that's your goodwill value.

for example:- A business is running over the period of
20yrs. now you are selling this business to other person &
your business price is 250000/- but you are getting 300000/-
then difference amt 500000/- is the value of goodwill.


Accounting method of calculating Goodwill :-

Writteoff method

CApitalization method

Amortization method

Non-Amortization method

Answer / rajmails2

Goodwill:
Assets are Classified as 1. Fixed Assets
2. Current Assets.but there are two more that is 1.Tangible
Assets 2. Intangible assets.
Tangible : These are the assets which can be seen touch
felt. Ex:car, Chair. machinery etc.,
Intangible Assets : Which can't be seen, touch, felt,
for Examp : Good will, Patents, Trademarks.

Answer / abhinav

Goodwill is a reputation earned by a firm in a market.
It is an intengible asset.

Answer / shravani

An account that can be found in the assets portion of a
company's balance sheet. Goodwill can often arise when one
company is purchased by another company. In an acquisition,
the amount paid for the company over book value usually
accounts for the target firm's intangible assets

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