What journal entries are passed in the books of Transferor company in

Question

What journal entries are passed in the books of Transferor company in the case of amalgamation? Explain.

26 Apr 2025

Answer :

Word Count : 731

In the case of amalgamation, the transferor company transfers its assets and liabilities to the transferee company. Amalgamation refers to the merging of two or more companies into one, and in corporate accounting, it involves specific journal entries in the books of the transferor company to reflect the transfer of its assets, liabilities, and the settlement of shareholders' interests.

### 1. Transfer of Assets

The first step in the amalgamation process is the transfer of the assets from the transferor company to the transferee company. For this, the transferor company will need to pass journal entries that record the removal of its assets from the books and the settlement of any related accounts.

#### Entry for the transfer of assets:

```
Dr. Assets (e.g., Land, Building, Machinery, etc.)
Cr. Transferee Company (Liabilities to be transferred)
```

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