Dissolution of ...

If a partner cannot clear his debts on dissolution, the other partners must clear these debts in the following manner:

A partner gave a loan of Rs.20,000 to the firm. At the time of dissolution of the firm the net losses of the firm were 30,000. How much money will the partner get on dissolution?

When balance sheet prepared after the new partnership, assets and liabilities are recorded at :

At the time of dissolution of the firm, loan from partners relative is _________ .

Claim of the retiring partner is payable in the following form.

A, B & C takes a joint life policy, after 5 years B retire from the firm. Old profit sharing ratio is 2:2:1. After retirement A and C decided to share profits equally. They had taken a joint life policy of 2,50,000 with the surrender value 50,000 What will be the treatment in the partner's capital account on receiving the JLP amount if joint life policy is maintained at the surrender value along with the reserve?

Dissolution of partnership means :

When two firms amalgamate, general reserve is transferred to:

A firm is compulsorily dissolved if -.

(1) All partners are adjudicated insolvent
(2) The firm has been continuously suffering losses
(3) Partnership has various adventures & one such adventure becomes illegal.
(4) All of the partners except one, are adjudicated insolvent
(5) If the business of the firm becomes illegal because of some subsequent events, such as change in law

If at the time of admission, partner pays premium, then on dissolution, he is entitled to demand the return of a proportion of the premium if the partnership was for a fixed term and was dissolved before the expiry of that term, unless dissolution was caused by___.