As19

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I having Certain doubts.

 

1.In case of amalgamation of partnership firm Shall we prepare revaluation a/c instead of preparing realisation a/c  and calculating the purchase consideration (Based on PMqu.no 1).

 

2.operating lease under page no 2.53 and 2.54 .

   how to find lease rent  adjustment amount(LRA)

   next 2,3 year journal entry(to know LRA and P&L)

    lease rent  adjustment A/c

 

Kindly response to these queries

Replies (1)
Realisation a/c is prepared as we are selling all assets n settling liab ... in case of dissolution of firm...Whereas Revaluation is prepared when we are restructuring partnership. While calculating PC u have to consider the current value at which you are taking over the asset ....

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