Amalgamation Accounting
This query is : Resolved
Akshay B Ostwal
(Querist)
12 June 2009
There has been an amalgamation of two private companies. The transferor company had in its books share application money. The amalgamation was in the nature of merger. The amalgamation scheme provides a broad accounting treatment for accounting of all assets & liabilities.
How will be the share application money be accounted in the books of the transferee company.
Can the same be shown as "Share application money" in the books if not then what is the accounting treatment.
How will be the share application money be accounted in the books of the transferee company.
Can the same be shown as "Share application money" in the books if not then what is the accounting treatment.
CA Nitin Wadhwani
(Expert)
03 July 2009
The Share Application money will be either refunded to the Shareholders or shares will be alloted against it.
Akshay B Ostwal
(Querist)
04 July 2009
Thanks
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