Which of the following journal entries will be recorded upon realisation of the assets by the liquidator?
A) DR Liquidation; CR Liquidator's receipts and payments
B) DR Liquidator's receipts and payments; CR Liquidation
C) DR Shareholders' distribution; CR Liquidator's receipts and payments
D) DR Liquidator's receipts and payments; CR Revenue from sale of assets
Correct Answer:
Verified
Q30: The journal entry to record the distribution
Q31: Under a court ordered winding up, a
Q32: Which of the following is an example
Q33: Which of the following is not one
Q34: The main purpose of the liquidation account
Q35: In relation to the order of priority
Q36: Which of the following is an example
Q37: A voluntary winding up may be put
Q38: The details below were extracted from
Q39: Which of the following is an example
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