In amalgamation of partnership firms , What is business purchase account ?
Why it is prepared ?
1 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 08 April 2021
Business purchase account is the statement where acquirer company records all the assets acquired of target company and the liabilities settled of the target company and also records the consideration paid to the target company. As a result, after calculation either goodwill or capital reserve will arise in business purchase account
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