Module - 43 Accounting Procedure on Dissolution of Firm

Hello students
in this lecture we are going to discuss about accounting procedure of The dissolution of firm. basically when a form is dissolute then all the account will be closed off. accounting procedure is performed as following
1. preparation of realisation account
2. preparation of partners capital
3. partners current account
4. preparation of partners loan account
5. Cash and bank account
Realisation account is prepared for the dissolution of firm in which the realized value of all the assets will be recorded and the liabilities to be paid will be recorded that we discuss in our lecture completely and when we prepare partners capital and partners current account it is the same that we already discussed and the balance sheet will not be prepare because it is based on going concern concept is violates that is why so balance sheet will not be made. we will prepare cash and bank account which means when asset realised the cash inflow will be recorded on the receipt side and when liabilities are paid or partners are paid then it will be recorded on the credit side.
If you have any problem in relation to this lecture you can at 7877201323

Dissolution