Q37. The Journal entry for payment of unrecorded liability at the time of admission of partner is:
(a) Unrecorded liability A/c Dr XXX
To Revaluation A/c XXX
(b) Unrecorded liability A/c Dr XXX
To Cash A/c XXX
(c) Revaluation A/c Dr XXX
To Cash XXX
(d) Liability A/c Dr XXX
To Revaluation A/c XXX

Question

Q37. The Journal entry for payment of unrecorded liability at the time of admission of partner is:
(a) Unrecorded liability A/c Dr XXX
To Revaluation A/c XXX
(b) Unrecorded liability A/c Dr XXX
To Cash A/c XXX
(c) Revaluation A/c Dr XXX
To Cash XXX
(d) Liability A/c Dr XXX
To Revaluation A/c XXX

Accepted Answer

Revaluation A/c Dr XXXTo Cash XXX

Questions

Q37. The Journal entry for payment of unrecorded liability at the time of admission of partner is: (a) Unrecorded liability A/c Dr XXX To Revaluation A/c XXX (b) Unrecorded liability A/c Dr XXX To Cash A/c XXX (c) Revaluation A/c Dr XXX To Cash XXX (d) Liability A/c Dr XXX To Revaluation A/c XXX

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