Acquisiton of Business
This query is : Resolved
15 April 2009
Dear All,
I am working i a Ltd Co. Our Company has acquire the bussiness of one of our group company and we had paid Rs. 2 Crore . I would like to know the accouting entries for the same.
Thks
I am working i a Ltd Co. Our Company has acquire the bussiness of one of our group company and we had paid Rs. 2 Crore . I would like to know the accouting entries for the same.
Thks
16 April 2009
Entry: 1
Business Purchase Dr. 2 Crores
To Cash/ bank / eq share etc 2 Crores
Entry :2
All assets A/c Dr.
General reserve or P/L (if loss)
To All Liability
To Business Purchase
To General reserve or P/L (if profit)
Entry (1) and (2) can be merged
Business Purchase Dr. 2 Crores
To Cash/ bank / eq share etc 2 Crores
Entry :2
All assets A/c Dr.
General reserve or P/L (if loss)
To All Liability
To Business Purchase
To General reserve or P/L (if profit)
Entry (1) and (2) can be merged
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