hii there.....❤☺️give the journal entry for an asset taken over by a partner on dissolution of a firm.... ....and plz do follow me.....
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Explanation:
It is prepared by: Transferring all the assets except Cash or Bank Account to the debit side of the account. Transferring all the liabilities except Partner's Loan Account and Partners' Capital Accounts to the credit side of the account. Crediting the Receipt on the sale of assets to the account
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