amalgamation

This query is : Resolved

P F A & Co., Chartered Account (Querist)
Follow

13 March 2011 sir,
in amalgamation, i had seen in various places P/L a/c is debited and credited(when difference between asset and liabilities taken over, amount paid to such helpers etc.) is it correct. i have studied that P/L a/c only contains nominal account. pls give me an answer

CA Dhiraj Ramchandani

CA Dhiraj Ramchandani (Expert)
Follow

13 March 2011 i think u r talkin about accounting of amalgamation under POOLING OF INTEREST (MERGER) method.. There, if there's a debit balance, p&l debited while for crdiet balance its general reserve.....

P F A & Co., Chartered Account

P F A & Co., Chartered Account (Querist)
Follow

17 March 2011 sir, if it is purchase? p/l is debited or not?

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
Follow

17 March 2011 in case of "amalgamation in the nature of purchase" then difference will be transfer in Goodwill a/c or Capital Reserve a/c.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SARAVANAN PALANISAMY

Vishnu Agarwal

SHUBHANGI GOEL

Shivchandra Jakhotia

CA Lalit Kumar Agrawal

Subscribe Now

amalgamation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA