hey can anyone tell me what were the entries passed in the books of careful ltd in the topic amalgamation.
& is purchase consideration Rs10 lakhs??
how it is discharged??
its very urgent...
hey can anyone tell me what were the entries passed in the books of careful ltd in the topic amalgamation.
& is purchase consideration Rs10 lakhs??
how it is discharged??
its very urgent...
CA Paras jain
(Audit Senior Assistant)
(1544 Points)
Replied 04 May 2010
ya..AS-12 was out of syllabus
Basant
(Student)
(63 Points)
Replied 04 May 2010
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I got NP by making P/L a/c....for opening cash opened cash book...dunno if that was the way as my cash flow didnt match
Originally posted by : Faiz Ahmed |
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what about cash flow? |
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Naman
(Final ca)
(296 Points)
Replied 05 May 2010
@ Faiz
even i did by indirect method it was easy and u can always assume opening and closing stock as same if no info is given
@ vivek
3 journal entries wr to be passed
one is business purchase to liquidators of R ltd
2nd is iquidators of c ltd to eq shares,pref shares
3rd all assets dr to business purchase
well thats it
Basant
(Student)
(63 Points)
Replied 05 May 2010
@ faiz ahhhh missed it...it was easy then...for opening cash what did u do..cash book?
Naman
(Final ca)
(296 Points)
Replied 05 May 2010
@ basant
i think liq expenses r not specified that c ltd will pay
and since r ltd paid themselves from cash book so i think its r ltd transaction
ca buster
(student)
(23 Points)
Replied 06 May 2010
opening cash balance in cash flow will be the balancing figuure rs 73000
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