12 June 2009
There has been an amalgamation of two private companies. The transferor company had in its books share application money. The amalgamation was in the nature of merger. The amalgamation scheme provides a broad accounting treatment for accounting of all assets & liabilities.
How will be the share application money be accounted in the books of the transferee company.
Can the same be shown as "Share application money" in the books if not then what is the accounting treatment.
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