UPSC Exam > UPSC Videos > Commerce & Accountancy Optional Notes for UPSC > Amalgamation: Journal Entries in the Books of Transferor or Vendor Company
Amalgamation: Journal Entries in the Books of Transferor or Vendor Company Video Lecture | Commerce & Accountancy Optional Notes for UPSC
|
180 videos|153 docs
|
FAQs on Amalgamation: Journal Entries in the Books of Transferor or Vendor Company Video Lecture - Commerce & Accountancy Optional Notes for UPSC
| 1. What are journal entries in the books of the transferor or vendor company during amalgamation? |  |
Ans. Journal entries in the books of the transferor or vendor company during amalgamation involve recording the transfer of assets, liabilities, and equity to the purchasing or acquiring company. This includes entries for any gain or loss on the transaction, as well as adjustments for any differences in the carrying values of the assets and liabilities.
| 2. How are goodwill and capital reserve treated in the journal entries of the transferor or vendor company during amalgamation? | |
Ans. Goodwill is typically calculated as the excess of the purchase consideration over the net assets acquired and is recorded as an intangible asset in the books of the transferor or vendor company. Capital reserve, on the other hand, may be created to account for any excess consideration received over the fair value of the net assets transferred.
| 3. What is the significance of recording journal entries in the books of the transferor or vendor company in an amalgamation process? | |
Ans. Recording journal entries in the books of the transferor or vendor company during an amalgamation is essential for accurately reflecting the financial impact of the transaction. It helps in maintaining proper accounting records, ensuring compliance with accounting standards, and providing a clear picture of the financial position of the company before and after the amalgamation.
| 4. How are intercompany eliminations handled in the journal entries of the transferor or vendor company during amalgamation? | |
Ans. Intercompany eliminations involve removing any transactions or balances between the transferor or vendor company and the acquiring company to avoid double counting or overstating the financial results. These eliminations are typically recorded through adjusting entries in the books of both companies to ensure accurate consolidation of financial statements.
| 5. Can the journal entries in the books of the transferor or vendor company be reversed after amalgamation is completed? | |
Ans. Yes, journal entries in the books of the transferor or vendor company related to the amalgamation can be reversed if necessary. This may be done to correct errors, adjust for subsequent events, or reclassify certain entries. However, any reversals should be properly documented and supported by appropriate accounting rationale.
Related Exams
About this Video
|
Dec 22, 2024 Last updated |
Video Description: Amalgamation: Journal Entries in the Books of Transferor or Vendor Company for UPSC 2024 is part of Commerce & Accountancy Optional Notes for UPSC preparation.
The notes and questions for Amalgamation: Journal Entries in the Books of Transferor or Vendor Company have been prepared according to the UPSC exam syllabus.
Information about Amalgamation: Journal Entries in the Books of Transferor or Vendor Company covers all important topics for UPSC 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Amalgamation: Journal Entries in the Books of Transferor or Vendor Company.
Introduction of Amalgamation: Journal Entries in the Books of Transferor or Vendor Company in English is available as part of our Commerce & Accountancy Optional Notes for UPSC for UPSC & Amalgamation: Journal Entries in the Books of Transferor or Vendor Company in
Hindi for Commerce & Accountancy Optional Notes for UPSC course. Download more important topics related with notes, lectures and mock test series for
UPSC Exam by signing up for free.
Description
Video Lecture & Questions for Amalgamation: Journal Entries in the Books of Transferor or Vendor Company Video Lecture | Commerce & Accountancy Optional Notes for UPSC - UPSC full syllabus preparation | Free video for UPSC exam to prepare for Commerce & Accountancy Optional Notes for UPSC.
Information about Amalgamation: Journal Entries in the Books of Transferor or Vendor Company
Here you can find the meaning of Amalgamation: Journal Entries in the Books of Transferor or Vendor Company defined & explained in the simplest way possible.
Besides explaining types of Amalgamation: Journal Entries in the Books of Transferor or Vendor Company theory, EduRev gives you an ample number of questions to practice Amalgamation: Journal Entries in the Books of Transferor or Vendor Company tests,
examples and also practice UPSC tests.
|
180 videos|153 docs
|
|
Explore Courses for UPSC exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Sample Paper
,Objective type Questions
,Viva Questions
,Important questions
,Amalgamation: Journal Entries in the Books of Transferor or Vendor Company Video Lecture | Commerce & Accountancy Optional Notes for UPSC
,mock tests for examination
,shortcuts and tricks
,MCQs
,Semester Notes
,ppt
,Exam
,Summary
,study material
,video lectures
,Previous Year Questions with Solutions
,past year papers
,Amalgamation: Journal Entries in the Books of Transferor or Vendor Company Video Lecture | Commerce & Accountancy Optional Notes for UPSC
,Extra Questions
,practice quizzes
,Free
,Amalgamation: Journal Entries in the Books of Transferor or Vendor Company Video Lecture | Commerce & Accountancy Optional Notes for UPSC
,
Study Amalgamation: Journal Entries in the Books of Transferor or Vendor Company on the App
Students of UPSC can study Amalgamation: Journal Entries in the Books of Transferor or Vendor Company alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Amalgamation: Journal Entries in the Books of Transferor or Vendor Company,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Amalgamation: Journal Entries in the Books of Transferor or Vendor Company is prepared as per the latest UPSC syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup