How to account for dissolution or liquidation of partnership

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Reference no: EM13860331

Question:

Using the library or the internet, research examples of different methods that partnerships can use to allocate net income to the partners, and research the topics of partnership dissolution or partnership liquidation

When you''ve completed your research, provide at least one example of how income may be allocated among partners. Next, include the journal entries you believe would be needed to allocate the partnership income to each partner''s capital account.

Finally, summarize what you have found regarding how to account for the dissolution or liquidation of a partnership.

Be sure to provide the references to your sources at the bottom of your post and minimize the use of direct quotes from your sources (no more than 20% of your post should contain direct quotes, although ideally, you should paraphrase what you have found using your own words).

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Reference no: EM13860331

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