Company A acquired company B mid year in oct 22 from Company C
In Company B balance of computer as on 31.03.22 is Rs 12000 (this asset is still with company C)
what shall be the treatment of the above asset in Company A books for FY 22-23
Menu
Acquisition of company
Replies (1)
If the computer was part of an acquired business, record it at its fair value on the date of acquisition. Begin depreciating it in Company A's books only from the date control was transferred (October 2022). If the asset was not actually transferred to your company, do not record it in your books as a fixed asset.
Recent Topics :
- Capital gains incidence due to bonus shares
- Amendment of Object Clause of Memorandum
- How Can I Request a Refund for an Accidental Airte
- TDS on salary paid in cash
- YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
- Last Date To Fill ITR For Non-Audit Case
- Guidance Required on Filing Fresh Registration und
- IT Return Refund Status AY 2026-27
- Clarification Regarding Income Tax Demand Notice
- Online PAN Download: Check How?
Related Topics :
CAclubindia
