Question

pass the necessary general entry for treatment of partners loan appear on the Asset side of the balance sheet in case of dissolution of partnership form ​

Answer 1

hi mate,,,,,

here is your answer ☺️,,,,,

✔️✔️ partners loan is to be paid after payment of outside Liabilities but before payment of capitals of the partners. however, if the capital account of the partner from whom loan has been taken by the firm show a Dr. balance after adjustments, his loan account will be transferred to the credit of his capital account to the extent of Debit balance of capital account.

partner capital account Dr.

to partner loan account

☺️may be helpful .........