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How do you assess the value of intangible assets such as
copyrights and logos?
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Answer Posted / guest
Charities would not normally hold such assets as
investments but only for their functional use. In this case
value at either their depreciated historical cost or their
depreciated estimated value in use or other acceptable
basis of valuation the trustees decide on - which does not
have to be "market value
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my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.
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