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Deagle -oM

Deagle -oM

CA Inter

0

21-Jul-20 12:25

16

AS-26(goodwill) application in amalgamation, conversion and sale of partnership firms.

As per AS-26,only purchased goodwill can be shown in books, but in problems related to conversion/sale of partnership firms to company in study material they are providing purchase consideration for goodwill also.

Answers (4)

ruchi lahoti

ruchi lahoti

Moderator

22-Jul-20 12:48

Can you tell which illustration exactly?

Deagle -oM

Deagle -oM

CA Inter

0

22-Jul-20 16:55

similar type of question has also been solved in practice manual(old syllabus)q.5 by not taking goodwill in balance sheet

Attachments

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Deagle -oM

Deagle -oM

CA Inter

0

22-Jul-20 17:02

generally in conversion/sale of firm to company problems,they are including goodwill ,in business purchase a/c , as well as in computing P.C . Isn't that contradicting AS-26 acc to which only purchased goodwill can be shown in books.