Vichal took over mach @ 280000 FOR CASH. WHAT will be the entry for this in realisation account. In realisation account will this be under CASH A/C or VICHAL'S CAP A/C ?
Dear Student,
Since Vishal took over the machinery for Cash ; so Realisation account would be credited by Cash A/c only & not by Vishal's Capital A/c
Hope this clears your doubt.
Keep Posting !!!
Regards,
Since Vishal took over the machinery for Cash ; so Realisation account would be credited by Cash A/c only & not by Vishal's Capital A/c
Hope this clears your doubt.
Keep Posting !!!
Regards,