Dissolution of partnership firm
This query is : Resolved
23 November 2016
if the partnership firm is dissolved the how to prepare balance sheet and profit & loss account.
23 November 2016
Prepare the Financials as on the date of dissolution and transfer the profit / loss to the partners capital. What ever assets and liabilities are there transfer to Partners capital account based on the profit sharing ratio or partnership deed.
VK
VK
24 November 2016
Thank you sir for sharing your knowledge with me.
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