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newfound 11-10-2012
newfound - Memorial University of Newfoundland
When a partnership is dissolved, all the liabilities of the firm are paid, out of the assets of the firm, available at the time of dissolution. The remaining amount after paying all the liabilities, if available, will be distributed among the partners in their profit loss sharing ratios. If assets of the firm are not sufficient to pay all the liabilities of the firm, the partners will contribute the balance amount in their profit/loss sharing ratios to meet the liabilities of the firm. Source:http://in.docsity.com/en-docs/Capital_and_Drawings-Financial_Accounting-Lecture_Handout_
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brandonflowers 31-10-2012
brandonflowers - University of Cambridge
The actual adjournment of joint venture occurs underneath the pursuit fortune. some sort of)In the event the firm has been constituted for just a predetermined phrase, within the expiry of these time period. B)Within the finishing finical opportunity, when constituted for just a function. d)Within the demise of any companion
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