In amalgamation of partnership firms , What is business purchase account ?
Why it is prepared ?
Amalgamation of partnership firms
Replies (1)
Business purchase account is the statement where acquirer company records all the assets acquired of target company and the liabilities settled of the target company and also records the consideration paid to the target company. As a result, after calculation either goodwill or capital reserve will arise in business purchase account
Recent Topics :
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
Related Topics :
CAclubindia
