Question

after all liabilities are paid the balance cash is paid to all partners​

Answer 1

If any gain is there you can add it and after that you can distribute the remaining profit to partners in profit sharing ratio or equally.

Answer 2

Explanation:

After realizing all assets and paying off all liabilities, the partners divide the leftover cash and bank balances based on their capital balances in their capital accounts.

The purpose of the Realization account is to shut the books of the dissolved company and assess profit or loss on the sale of assets and payment of obligations.

It's put together by:

Transferring all assets to the debit side of the account excluding cash and bank accounts.