Dissolution of ...

Total creditors of the firm (already transferred to Realisation Account) were ₹30,000. Out of this, creditors waived their claim of ₹5,000 while the rest agreed to allow discount @ 10% of their respective claim.

Asset taken over by partner will be shown in:

All the assets of the firm are _____ and all outsiders’ liabilities and partners’ loan and partners capitals are ___ at the time of dissolution of firm.

Realisation Account is differ from Revaluation Account as

One Creditor worth ₹4,500 took over stock valued at Rs.5,200 in full satisfaction of his claim.

In which circumstances partners’ can dissolve the firm without interference of the court?

Pooja (one partner) agreed to pay off her husband’s loan Rs.14,000. What journal entry should take place for the same?

Dissolution by court will take place only when ____________

Realisation Account is:

What journal entry will take place when amount of liability is less than the amount of workmen compensation reserve?