What is meant by dissolution of a firm? Post category:Accountancy Reading time:1 mins read SOLUTION Dissolution of a firm means the dissolution of partnership among all the partners of the firm and the firm’s business is closed. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostRiyansh, Garv and Kavleen were partners in a firm sharing profit and loss in the ratio of 8: 7: 5. On 2nd November, 2018, Kavleen died. Kavleen’s share of profits till the date of her death was calculated at Rs. 9,375. Pass the necessary journal entry. (CBSE Sample Paper 2019) Next PostWhat is Dissolution of Partnership? You Might Also Like When a Creditor takes over an asset whose value is less than the amount due to him in full settlement of his claim, what entry shall be passed? September 27, 2022 Give the accounting entry for an unrecorded liability in case of reconstitution of partnership firm. September 26, 2022 What is meant by New Profit-sharing Ratio in case of admission of a partner? October 7, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
When a Creditor takes over an asset whose value is less than the amount due to him in full settlement of his claim, what entry shall be passed? September 27, 2022
Give the accounting entry for an unrecorded liability in case of reconstitution of partnership firm. September 26, 2022