Accountancy, asked by niharladla, 3 months ago

what is the entry of asset taken by partner for cash in realisation account

Answers

Answered by bhavee1257

1

On dissolution, the books of the firm are to be closed. Dissolution process starts by opening the following accounts in the firm’s books:

Realisation Account,

Partner’s Loan Account,

Partners’ Capital Accounts,

Bank or Cash Account.

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