Question

After transferring liabilities like creditors and bills payables in the realisation account, in the absence of any information regarding the payment, such liabilities are treated as​

Answer 1

Answer:

Bank or Cash Account. The object of preparing Realisation account is to close the books of accounts of the dissolved firm and to determine profit or loss on the Realisation of assets and payment of liabilities. It is prepared by: Transferring all the assets except Cash or Bank Account to the debit side of the account

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