Dissolution of firm
This query is : Resolved
27 July 2014
logic why cash payment is always equal to cash received by firm. in cash account prepare at the end.
CA UMESH DULAL
(Expert)
28 July 2014
You can not pay cash if you do not have cash in hand so there should not be any entry which will bring cash in hand negative...
29 July 2014
THANKS,BUT AS PER ANY GIVEN QUESTION,AMOUNT RECEIVED ON SALE OF ASSETS AND AMOUNT PAID ON PAYMENTS OF LIABILITIES ,NET AMOUNT OF CASH ,HOW IT IS EQUAL FOR CAPITAL PAYMENT DUE.
CA UMESH DULAL
(Expert)
29 July 2014
After paying liability, if there is surplus, then it should be distributed as per capital/profit sharing ratio between partner as per partnership deed.
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