Financial Accounting

Chapter 14

Dissolution of Partnership

LEARNING OBJECTIVES

After studying the chapter, you will be able to understand

1. The Meaning of Dissolution of Partnership and Factors Responsible for Dissolution of Partnership and Firms

2. The Destruction Between Dissolution of Partnership and Dissolution of Firm

3. Provisions Envisaged Under Section 48(a), 48(b) and 49 of Indian Partnership Act, 1932

4. Meaning, Features and Preparation of Realisation Account

5. Accounting Treatment of (i) Partner’s Loan Amount, (ii) Partner’s Capital Account, (iii) Bank and Cash Account, (iv) Goodwill and (v) Unrecorded Assets and Liabilities

6. Preparation of Balance Sheet as on Date of Dissolution

7. The Concept and Accounting Treatment of Return of Premium

8. Accounting Treatment of ...