Dissolution of partners
This query is : Resolved
04 November 2013
what will be accounting treatment in case of insolvency of all partners..
04 November 2013
Prepare Realisation Account & transfer all assets & liabilities .
Prepare partners capital account & transfer balance to cash account.
transfer all assets & liabilties to their respective accounts
Then apply the concept of garner v/s murray & piecemeal distribution for sharing loss & cash distribution
Prepare partners capital account & transfer balance to cash account.
transfer all assets & liabilties to their respective accounts
Then apply the concept of garner v/s murray & piecemeal distribution for sharing loss & cash distribution
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