FRA - Goodwill T Account

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:30AM in AAT student discussion
Hi All<BR><BR>I think I failed big time but never mind.<BR><BR>What was we meant to put in the Goodwill T Account, Ive never come across it before<BR><BR>

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Goodwill T Account

    Dr Goodwill with 100,000 in original profit share<BR>40,000<BR>30,000<BR>30,000<BR><BR>The credit it with the 50/50 for the two remaining partners<BR>100,000<BR>100,000
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Goodwill T Account

    I think you mean:<BR>Dr Goodwill with 100,000 in original profit share<BR>40,000<BR>30,000<BR>30,000<BR><BR>The credit it with the 50/50 for the two remaining partners<BR>50,000<BR>50,000<BR><BR>:-)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Goodwill T Account

    Yeah!! Ha ha!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Goodwill T Account

    In my opinion this was the easiest thing on the exam. I was doing my appropriation account, looked at the clock and noticed i only had 20mins left.. AHHH looked at the next couple of pages and realised i had to do a goodwill thingy, thought that would take ages.. Took like 2mins.<BR><BR>Andy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA - Goodwill T Account

    Aggghhhh BUMMER<BR>haha i got the good will question wrong.<BR><BR>I put them on the wrong sides.<BR><BR>I debited new goodwill and credited old goodwill.<BR><BR>errr, im hoping that isnt enough to fail section 2.

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