What should be considered when accounting for a partnership dissolution?

      

What should be considered when accounting for a partnership dissolution?

  

Answers


Winnie
-Determination of each partner's capital balance that is brought down for the purpose of adjustment

-Closure of all nominal accounts and the respective totals to transfer the profit and loss account

-Preparation of realisation account

-Treatment of payments made to creditors

-Distribution of gains and losses on realisation among the partners respective capital accounts

The final distribution of bank and cash balances among the partners


Wincate 1 answered the question on October 12, 2017 at 15:48


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