amalgamation
This query is : Resolved
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
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
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.....
17 March 2011
sir, if it is purchase? p/l is debited or not?
CA Ravi Sisodia
(Expert)
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.
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