On which side of trial balance will the Goodwill account appear?

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Solution

Goodwill is a type of an intangible fixed asset. It is shown in the balance sheet under the fixed assests. Such items are shown on the debit balance.

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Similar questions

Give one word, term or phrase for the following statement:

1) A List of Debit Balances and Credit balances in the ledger.
2) A Statement prepared to provide the base for preparing the final accounts.
3) A statement is prepared without balancing the ledger account.
4) Mention the side where goodwill A/c is appeared in the Trial Balance.
5) A List of both Ledger balances which is prepared after the closing of ledger Accounts.

State true or false:

1) A Trial balance is an account.
2) A Trial balance is helpful for preparation of final accounts.
3) A Trial balance is most important document.
4) A Trial balance may be prepared on any date.
5) In Trial balance opening stock is recorded in credit balance column.
6) Both sides total of an account are taken in Gross Trial Balance.
7) Purchase account always shows debit balance.
8) A Trial balance is a List of Ledger balances.
9) A Trial balance does not ensure accounting accuracy.
10) A Trial balance shows only arithmetical accuracy.

Q. Goodwill account appears on _____________ side of Trial Balance.

Q. Give one word, term or phrase which can substitute each of following statements:
Where will Goodwill appear in the Trial Balance?

Q. Which of the following account balance will be shown on debit side of Trial Balance?

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