Question

any balance in the profit and loss account of the purchasing firm will be transferred to

Answer 1

Answer:

bigg d jk jddldd my kd s ki sjdhgxhdhdudjdgxghd

Answer 2

Answer:

Explanation:

Balance of Profit and Loss Account

Alternatively, it is transferred to the General Reserve, if any. 22. In the case of an 'amalgamation in the nature of purchase', the balance of the Profit and Loss Account appearing in the financial statements of the transferor company, whether debit or credit, loses its identity.