In converting a partnership into a limited liability company, the necessary accounts to be opened in the books of the company are

When converting a partnership into a limited liability company, the necessary accounts to be opened in the books of the company are the Business Purchase Account, Vendor Account, and Ordinary Share Capital Account. The Business Purchase Account is used to record the value of the assets and liabilities of the partnership that are transferred to the limited liability company. This account is debited for the total value of the assets transferred and credited for the total value of the liabilities transferred. The Vendor Account is used to record the amount owed to the partners for their share of the assets transferred to the company. This account is credited for the amount of the partner's capital contribution, which is the value of their share of the assets transferred. The Ordinary Share Capital Account is used to record the value of the shares issued to the shareholders of the limited liability company. This account is credited for the total value of the shares issued to the shareholders. In summary, when converting a partnership into a limited liability company, the necessary accounts to be opened in the books of the company are the Business Purchase Account, Vendor Account, and Ordinary Share Capital Account. The Business Purchase Account is used to record the assets and liabilities transferred from the partnership, the Vendor Account is used to record the amount owed to the partners, and the Ordinary Share Capital Account is used to record the value of the shares issued to the shareholders.