In Amalgamation, can Goodwill and Capotal Reserve be Netted off?
If two companies were amalgamated to form a new company and the amalgamation was in the nature of purchase and the result of purchasing one company was goodwill and that of another was Capital Reserve. So, as per AS 14, can these resultant goodwill and Capital Reserve be netted off in the transferee's books? like this author has done in the image below
We can set off or show separately