Question

amalgamation adjustment reserve account is required in respect of general reserve?​

Answer 1

Answer:

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Answer 2

Answer:

The given statement is found to be false as the amalgamation adjustment reserve account is necessary in respect of statutory reserve.

Explanation:

• The Amalgamation Adjustment reserve fund appears as a debit balance (negative figure) under the head, “Reserves and Surplus” within the balance sheet. When identity of the statutory reserves is not any longer required to be maintained, both the reserves and therefore the aforesaid account should be reversed.
• An amalgamation adjustment account arises when certain statutory reserves have to be maintained by the transferee company which were previously maintained in the transferor company`s accounts.

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