- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Other questions
This reply assumes there is no seller financing, no non-compete agreement, and no previously booked goodwill. Create two 'Other income' accounts, one called 'Gain on Goodwill' and one called 'Gain on Sale of Client List'. Then, when you deposit the funds, allocate the funds as per the purchase agreement between goodwill and the client list.