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    slh6582's Avatar
    slh6582 Posts: 22, Reputation: 1
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    #1

    Jul 29, 2008, 08:54 PM
    Goodwill Amortization
    If a company purchased a small business in January and recorded 160,000 for goodwill with an indefinite life, then is there an adjusting entry that should be made at the end of the year to record amortization?
    deepoceantt's Avatar
    deepoceantt Posts: 1, Reputation: 1
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    #2

    Jul 30, 2008, 01:18 PM
    There should be no adjusting entry for goodwill.
    slh6582's Avatar
    slh6582 Posts: 22, Reputation: 1
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    #3

    Jul 30, 2008, 06:56 PM
    Thank you... I always second guess myself haha
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