intangible asset
goodwill
That is correct. Goodwill as an asset appears on the balance sheet of a consolidated company to represent any premium that the acquiring company paid for a subsidiary company that is in excess of the fair value of the company's net assets. Therefore, Goodwill would only show up on the consolidated balance sheet, as the subsidiary's net assets are not reflected on the acquiring company's balance sheet until the consolidation process.
goodwill
Record it as an expense.
balance sheet is a record of debit and credit entry of account in order to obtain the net profit of the business.
Goodwill is an intangible asset and that amount or value which business earns due to it good working and part of other assets.
Internally generated goodwill is never capitalized, purchased goodwill is capatalized on the consoilidated balance sheet.
goodwill
That is correct. Goodwill as an asset appears on the balance sheet of a consolidated company to represent any premium that the acquiring company paid for a subsidiary company that is in excess of the fair value of the company's net assets. Therefore, Goodwill would only show up on the consolidated balance sheet, as the subsidiary's net assets are not reflected on the acquiring company's balance sheet until the consolidation process.
goodwill
Consolidated balance sheet shows the record of full group of companies while simple balance sheet shows the record of single company.
Balance sheet is the record of Assets and Liabilities.
Tax is an expense, you do not record it in a balance sheet but on the general journal.
Record it as an expense.
Balance Sheet- Noon Current Asset- intangable Asset
asset
Intangible assets are items such as Copyrights, patents, goodwill, trademarks, etc. These would be classified as Intangible Assets on a company's balance sheet.