Tejas Jasoriya (CPT clear) (284 Points)
07 September 2015
Srividya Murali
(Article Assisstant)
(211 Points)
Replied 08 September 2015
I think there will be no entry for this one
Kaushik Sekar
(Article Assistant)
(66 Points)
Replied 23 September 2015
I think it will be :
Dr. Realisation A/c
Cr. Bank A/c
Because the Bank A/c ledger will be having a debit balance and the whole will be transferred to the Liquidator by crediting Realisation A/c.
Correct me if I am wrong.
Mukund
(Nil)
(36 Points)
Replied 25 September 2015
You should be happy if the liquidator keeps the overdraft of the Bank account for himself.However they are not so obliging so we have to stick with this accounting entry
DR Realization Account xxxxx
CR Bank Account xxxxx
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