Accountancy, asked by chauhansheetal277, 1 year ago

what journal entries will you pass in case of dissolution of a partnership form ​

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Answered by Anonymous
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The balance is paid to partners whose capital accounts show a credit balance and the following entry is recorded. It may be noted that the aggregate amount finally payable to the partners must equal to the amount available in bank and cash accounts. Thus, all accounts of a firm are closed in case of dissolution.

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