What is the difference between goodwill and minority, Ask an Expert

Accounting

Dream, Works Animation makes well -known animated films like Sherk 2. Two items on the company's 2008 balance sheet are as follows:

Goodwill ----$34,216
Minority interest ---$2,941

1. What is the difference between Goodwill and Minority Interest and where do these items appear on the balance sheet?

2. The amount of Goodwill did not change from 2007 to 2008. Assuming no new acquisitions or sales, what would cause the amount of Goodwill to change from year to year? Would it increase or decrease?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M965679

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