statutory reserves
This query is : Resolved
08 August 2010
Respected Members
how to deal with statutory resreves in amalgamation of companies?
regards
chaitanya
how to deal with statutory resreves in amalgamation of companies?
regards
chaitanya
08 August 2010
in amalgamation which is of merger in nature u need to incorporate all the assets and liabilities at book value and so it would be automatically incorporated
if is purchase method then the following entry may be passed
amalgamation adjustment a/c Dr.
to Statutory reserves a/c
amalgamation adjustment is to be shown under misc exp in b/s
if is purchase method then the following entry may be passed
amalgamation adjustment a/c Dr.
to Statutory reserves a/c
amalgamation adjustment is to be shown under misc exp in b/s
09 August 2010
Irrespective of whether the amalgamation is in nature of merger or purchase, the nature of statutory reserves is to be maintained and carried forward to the new company.
The entries are as above
The entries are as above
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
