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what is the accounting entry for fictitious asset
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Answer / trupti r.mahindrakar
Goodwill is one of the fictitious asset & its accounting
entry will be
Goodwill A/c.....Dr.
To, company, individual(PARTNER), firm.
| Is This Answer Correct ? | 7 Yes | 5 No |
Answer / joseph
Debit Fictitious Asset and Credit the Capital
Example Goodwill
Goodwill Debit
To Partner
| Is This Answer Correct ? | 12 Yes | 11 No |
Answer / yeah
In banking since a loan is an asset w/o consideration
through fractional banking is a fititios asset. Since
there's no real tangible asset to back money (credit) made
through a book keeping antry
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / ipshita
Goodwill dr
To shares/cash(any consideration paid)
| Is This Answer Correct ? | 6 Yes | 6 No |
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Audit 
