Account class 12 Dissolution of a Partnership Firm

1. At the time of dissolution of the firm, if goodwill appears in the balance sheet, it is transferred to ;

2. At the time of dissolution of the firm, the asset and liabilities appearing in the balance sheet are transferred to ;

3. At the time of dissolution of the firm, loan from partner is ;

4. At time of dissolution of the firm, loan from partners relative is ;

5. Where it is agreed that a partner will be paid a lump sum account for dissolution, if the payment is made by the firm, the payment is debited to ;

6. Unrecorded asset when realized is credited to ;

7. Unrecorded liabilities when paid are debited to ;