Question

Purchase consideration receivable from Ltd. company is credited to--------
A/c by the firm.
a) Ltd. Company's
b) Realisation
c) Bank
d) Shares​

Answer 1

Answer:

The following entries are necessary to record the purchase of business:—

1. Debit Business Purchase Account ] with the purchase price agreed upon. Credit Vendor.
2. Debit various assets taken over at the value at which the company wants to record them in its books. ADVERTISEMENTS: ...
3. On payment to the Vendor:

Answer 2

C) bank
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