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    pmbemah's Avatar
    pmbemah Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 27, 2010, 12:46 PM
    Acquisition of a new business.
    My company just purchased the assets and liabilities of another company. What are the accounting treament for this transaction? How does this transaction affects the financial statements?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    Feb 28, 2010, 04:09 AM

    You enter an acqusition journal entry of all the assets and liabilities
    In your books.
    The financial statement will reflect the addition of the entry in your new balance sheet.
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