Which of the following is the journal entry recorded on realisation of the assets by the liquidator?
A) DR Cash, CR Liquidation
B) DR Liquidation, CR Cash
C) DR Cash, CR Revenue from sale of assets
D) DR Shareholders' distribution, CR Cash
Correct Answer:
Verified
Q3: A voluntary winding up commences when:
A) the
Q4: In relation to the order of priority
Q5: Which of the following is entitled to
Q6: Who is required to prepare the report
Q7: Claims against a company whereby the creditor
Q9: Under a court ordered winding up, a
Q10: A declaration of solvency is required to
Q11: What is the timeframe within which the
Q12: When an administrator is appointed to a
Q13: Which of the following is a task
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents