Acquire new company

Discussion in 'General Accountancy Discussion' started by Kate99, May 15, 2018.

  1. Kate99

    Kate99

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    I would like to check how's does account work on following situation:

    Company A acquire company B by paying sum of money, $100K (Asset + Goodwill). Company B financial year period is 1 Jan - 31 Dec. After completed sales & purchase agreement (on 15 Apr 2018), company A hold 100% share for Company B.
    My query are:
    1. When doing company B account, should company A taken account entry start from 1 Jan or upon official completion acquisition, which is 15 Apr 2018?
    2. When do annual filling & tax filling to government, should company A filling from 1 Jan - 31 Dec 18 or 15 Apr to 31 Dec 18?

    Thank you for help!
     
    Kate99, May 15, 2018
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  2. Kate99

    stellanelson143

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    How to add a Company in QuickBooks software?
     
    stellanelson143, May 15, 2018
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