Amalgamation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 September 2011 sir, in amlgamation debenture of X ltd worth Rs.200000 are taken by y ltd at 10% discount What are the journal entry in the book of Y ltd.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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13 September 2011 Debentures have been issued to the inesters and it has to be procured from them. If new debentures issued then

Bank Dr
Discount on debentures Dr.
To Debentures a/c

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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03 October 2011 No, I don't agree with the above entry

At the time of recognition of assets only, the liability of Debentures will be recorded at 1,80,000 mentioning that they were acquired at the discount

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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03 October 2011 the discount amount will be adjusted in the calculation of goodwill only

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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03 October 2011 The Discount on Debentures entry given by above expert is passed only when Y ltd is issuing the debentures of Y ltd at discount

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