What if in Balance sheet Current account of all partners are given in credit side and capital account are also given in same balance sheet and profit comes at the time of dissolution of firm in Realization A/c. What will be the treatment?
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hello!
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firstly, we make a realization account to solve all adjustments that given in question.
after we make partner's capital account to share all profit and losses.
and then we make balance sheet.
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