WHILE SOLVING AMALGAMATION OF PARTNERSHIP FIRM SUM IF IT IS SPECIFIED THAT GOODWILL WILL APPEAR IN THE BALANCE SHEET OF THE NEW COMPANY THEN WHAT WILL BE THE DIFFERENCE IN GOODWILL ADJUSTMENT AS COMPARED TO WHEN GOODWILL WAS NOT TO BE APPEAR IN BALANCE SHEET OF THE NEW COMPANY.
6 Replies
Rahul Malhotra
(cs Trainee)
(119 Points)
Replied 21 October 2013
Goodwill is the asset of the company when a comapny or firm amalgamate with other company or firm then needs to show what it has got in the amalgamation asset and liabilities. If u need to now about amalgamation then read sec 391 to 393
HarishVj
(student)
(47 Points)
Replied 22 October 2013
| Originally posted by : AKSHIT MALHOTRA | ||
 |
WHILE SOLVING AMALGAMATION OF PARTNERSHIP FIRM SUM IF IT IS SPECIFIED THAT GOODWILL WILL APPEAR IN THE BALANCE SHEET OF THE NEW COMPANY THEN WHAT WILL BE THE DIFFERENCE IN GOODWILL ADJUSTMENT AS COMPARED TO WHEN GOODWILL WAS NOT TO BE APPEAR IN BALANCE SHEET OF THE NEW COMPANY. |
|
If goodwill not shown in the balance sheet of the new company it will be adjusted to the old partners capital account.
regards
AKSHIT MALHOTRA
(C.A Final Student)
(1337 Points)
Replied 22 October 2013
thnx harishVJ but if goodwill is to appear in the balance sheet ?then
HarishVj
(student)
(47 Points)
Replied 22 October 2013
It is credited to all partners(including new partner)in new profit sharing ratio
AKSHIT MALHOTRA
(C.A Final Student)
(1337 Points)
Replied 23 October 2013
BUT IF THERE IS NO NEW PARTNER.
FOR EX-RAM & KUMAR ARE PARTNERS OF RK & CO.AND KUMAR &MANGAL ARE PARTNERS OF KM & CO.BOTH OF THESE FIRMS ARE AMALGAMATED.
NOW TELL ME WHAT WILL BE THE TREATMENT OF GOODWILL IF IT IS TO BE APPEAR & IF IT IS NOT TO BE APPEAR.
GOODWILL OF RK & CO Is Rs.2,40,000 & GOODWILL OF KM & CO. IS RS 2,00,000.
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