Takeover of a company
This query is : Resolved
CA Parul Saxena
(Querist)
26 July 2011
If a company takes over another one and issues shares.....then what would be the treatment in personal ledgers of directors.Whether these shares be considered as Investments from director's point of view?and if yes, what would be the corresponding credit account????Please share your valuable views.
Regards
CA PARUL SAXENA
9891087407
Regards
CA PARUL SAXENA
9891087407
16 May 2012
Suppose X Ltd. is taken over by Y Ltd. Directors of X Ltd are issued shares of Y Ltd. in exchange of shares held in X Ltd.
Entry:
Investment in Y Ltd. A/c Dr
To Investment in X Ltd.
Entry:
Investment in Y Ltd. A/c Dr
To Investment in X Ltd.
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