Basic Principles for Dissolution of Partnerships Upon the dissolution of a partnership, the partnership act provides that the assets of the firm, including the sums contributed by the partners to make up losses or deficiencies of capital, must be applied in the following manner and order: In paying the debts and liabilities of the firm to persons who are not partners therein.In paying to each partner...
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Introduction to accounting, Basic principals of accounting, Bookkeeping principles, Ledger accounts, Bank reconciliation, Financial statements, Incomplete records, Partnership accounts, Accounting for limited companies, Cash flow statements, Consolidated accounts.
Accounting For Business
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