Question

Explain the accounting steps for the dissolution of a firm ​

Answer 1

Answer:

The following four accounting steps must be taken, in order, to dissolve a partnership: sell noncash assets; allocate any gain or loss on the sale based on the income-sharing ratio in the partnership agreement; pay off liabilities; distribute any remaining cash to partners based on their capital account balances.

Explanation:

PLEASE MARK AS BRAINLIST ANSWER