Australia Buying a Business Opening Jnl

Joined
Nov 10, 2016
Messages
1
Reaction score
0
Country
Australia
If I but a business with stock is this the opening entry (assuming no cash outlay from the company)

Cr Equity $100
Dr Goodwill $75
Dr Opening Stock $25

Does opening stock translate into equity on purchase?

Thanks.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top