Can Amalgamation of firms be solved by opening revaluation account? Or it is compulsory to solve by opening realization account? I solved it by opening revaluation account in today's paper
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Discussing Advance accounting question paper
Replies (12)
No you have to solve by opening Realisation Account only
nope!! you can solve it by revaluation account too
it can be done by both ways and anyways it was not required part so don't worry at all
it can be solved by both. don't worry
yes it can be solved without opening revaluation account through realization account in case of amalgamation questions
there was no specifications in the question that you have to make a realisation account so whatever account you open either it's a revaluation account or realisation account it's part of your working.so if your answer is right it doesn't matter if you solved it by opening a realisation account or revaluation account
I have solved by calculating PC without opening realisation a/c is it correct?
whenever the going concern is absent we have to open realisation account ,in amalgamation of firms, in the books of selling company we have to open realisation account only
to be honest as per conceptual clarity
even two firms are amalgamating the business remains same so
if u open realization account it means ur business was closed
as per concept it is better to open revaluation account
but in sm and pm icai used both methods more oftenly they used revaluation only
no problem
even two firms are amalgamating the business remains same so
if u open realization account it means ur business was closed
as per concept it is better to open revaluation account
but in sm and pm icai used both methods more oftenly they used revaluation only
no problem
Thank you all for clarifying.. coz I was worried whether ICAI will deduct the marks if I solve by revaluation method.. but now it's clear that it can be solved by opening revaluation account also..
Hello
while calculating PC Net asset Taken Over will result is reduction of Cost of issue of debentures as stated in question that it should be excluded? if not then what is the implication of Cost of issue of debentures?
while calculating PC Net asset Taken Over will result is reduction of Cost of issue of debentures as stated in question that it should be excluded? if not then what is the implication of Cost of issue of debentures?
realisation account
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