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

We bought some machines from Singapore (capital goods), payment made in rupees. but the invoice value is mentioned as USD. 1. party ledger shows (debit side) amount in rupees. now i need to make purchase entry. 2. shall i want to convert USD to rupees? 3. if i do like that the party ledger will be differ.. 4. somebody pls tell me the way to make purchase entry.

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