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Amalgamation

This query is : Resolved 
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(Querist)
05 October 2010 Respected All,

My query is:
AS PER AS-14,IN THE AMALGAMATION IN THE NATURE OF MERGER, THE DIFF BETWEEN THE AMOUNT OF SHARE CAPITAL ISSUED AND THE AMOUNT OF SHARE CAPITAL OF THE TRANSFEROR COMPANY SHOULD BE ADJUSTED IN RESERVES.
In which reserve, capital reserve, general reserve , amalgamation reserve or any other reserve.
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CA. PRASAD

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CA. PRASAD (Expert)
19 October 2010 Lets take one e.g.
Share capital Rs. 50 L & Purchase Consideration Rs. 55 L.
Diff. to be Debited to Profit & Loss A/c. (In Purchasing Co. Books)

Share capital Rs. 50 L & Pur. Consideration Rs. 45 L.
Diff. to be credited to General Res.
(In Purchasing Co. Books)
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