Amalgamation adjustment reserve is opened in the books of transferee company to incorporate

Related MCQs

• Creditors ledger adjustment account is opened in
• Debtors Ledger Adjustment Account is opened in the
• The adjustment entry for goods in transit is passed in the books of
• The following accounts should be opened in the case of separate set of books in Joint Venture Account.
• A few errors committed in Ahhiwalia's books of account are given below. State which errors would affect the Trial Balance. (a) Sales of `950 to Ram completely omitted from books of account (b) Purchases of `720 from Shyam entered in the purchases journal as `700 (c) Purchases Journal is overcast by `1,000 (d) Sales returns journal is undercast by `200 (e) Amount paid to Agarwal wrongly posted to the debit to Mittal's account (f) Bank overdraft shown under debit column in the Trial Balance (g) Sales of `500 to Sadiq entered in sales journal as sales to Mushtaq (h) Wages paid for installation of machinery debited to wages account
• On Amalgamation, Profit & Loss A/c (Dr.) balance of the vendor company is closed by___________
• On Amalgamation, Profit & Loss A/c (Dr.) balance of the vendor company is closed by___________
• On amalgamation, Share issue Expenses A/c appearing on Assets side of the balance sheet of the vendor company
• On amalgamation, if the dissolution expenses are paid as well as borne by the purchasing company
• Loss or profit on realisation a/c is transferred by the transferor company, under amalgamation to