goodwill question

goodwill question

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I am winding up our company and am wondering about the bookkeeping entries required.

The balance sheet is broadly:

Goodwill                              120,000

Equipment                              1,000

Debtors all good                    20,000

Bank Loan                            25,000

Trade creditors                      15,000

Tax due                                10,000

Directors Loan account          90,000

Share capital                             100

Profit and Loss account             900

What is the tax position likely to be.

Your help much appreciated

Replies (3)

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By johngroganjga
17th Oct 2014 09:15

Are you planning to put cash into the company to enable it to pay its creditors?  If not stop now and consult an insolvency practitioner without further delay.

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By Portia Nina Levin
17th Oct 2014 10:34

Goodwill question?

The question has got SFA to do with goodwill. Go and see somebody that knows what they are talking about.

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By johngroganjga
17th Oct 2014 10:42

And it's not about book-keeping entries either.  It's about winding up an insolvent company.

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