Amalgamation

Accountancy

As per the noteinter company owning...no attention to be paid to fact of inter company owning at bisiness purchase entry so in suggested answer of mock sep 2022 why 15000 of inter company owning deducted frm bills payable of white lyd and bills receivable of black

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Gauri Shete

CA Final

★ 5K+

19-Feb-23 23:10

687

Answers (6)

After take over balance should be removed

CA Suraj Lakhotia

Admin

19-Feb-23 23:30

They have taken ot while calculating net asset taken over onlt Y

Thread Starter

Gauri Shete

CA Final

★ 5K+

19-Feb-23 23:33

Similar kind of adjustment is in book also but they have not consider mutual owing while net asset calculation..(* marked at relevant figures)

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Thread Starter

Gauri Shete

CA Final

★ 5K+

19-Feb-23 23:39

In some cases they have adjusted. But general rule is to not adjust mutual ownings.

CA Suraj Lakhotia

Admin

10-May-23 08:01

Sir in accounts paper specially , what is happening that i know the answer in rough but i am so confused betweewn two treatments that ,I end up giving the wrong one and wt happens that one which I have not applied turns out to be correct..my father says give both they will allot marks for right one and ignore wrong( just fun part) but then i feel oh i knew but i have done it wrong....yesterday also in amalgamation question i calculated the purchse consideration coreectly for a trick question but then i thought no this is also a provison so i end up writing wrong....what can i do sir?

Thread Starter

Gauri Shete

CA Final

★ 5K+

10-May-23 08:48

Thread Starter

Gauri Shete

This tricky adjustments you should note down and thoroughly revise.

CA Suraj Lakhotia

Admin

10-May-23 16:40