Question

cash balance take over by a Ltd. company is debited to
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Answer 1

Explanation:

Answer: Explanation: Cash balance take over by a LTD. Company is debited to its shares accounts.

Answer 2

Cash balance taken over by a Ltd. Company is debited to _____ A/c.

Realisation A/c ;  

Capital Accounts P & L A/c

Current Accounts

Realisation A/c ;

The correct answer :

Realisation A/c ;

Explanation :

Cash balance take over by an Ltd. Company is debited to __Realisation__.

A Realisation account is created to transfer all kinds of assets except cash or bank account to the debit side of the account. This account is used to transfer all liabilities to the credit side of the account except Partner's Loan Account and Partners Capital Account. Receipt on sale of assets is credited to the Realisation account.

Realsation Account is used to record the sale and subsequent value of assets. Realisation Account is used to pay all such liabilities and record their settlement value.

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