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what is journal entry in the transferee company book in the
case of amalgation
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Answer Posted / khushbooyadav89
In the boooks of Transferee co.:-
1) Business Purchase a/c Dr.
To Liquidator of Vendor co.
2) Fixed Asset a/c Dr.
Current Asset a/c Dr.
G/W a/c(bal. fig.) Dr.
To Business Purchase a/c
To Current Liability a/c
To Long Term Liability a/c
To Capital Reserve a/c(bal. fig.)
3) Liquidator of Vendor co. Dr.
To Shares in transferee co.
To cash a/c
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