Dissolution of a partnership, Financial Accounting

Dissolution of a partnership
A partnership is dissolved when:

  1. It is temporary (maybe set up for a given period which has lapsed);
  2. One partner notifies the others in writing, of his intention to retire;
  3. A partner dies, becomes insane or bankrupt;
  4. The partnership becomes unlawful.

 

Posted Date: 12/11/2012 5:46:37 AM | Location : United States







Related Discussions:- Dissolution of a partnership, Assignment Help, Ask Question on Dissolution of a partnership, Get Answer, Expert's Help, Dissolution of a partnership Discussions

Write discussion on Dissolution of a partnership
Your posts are moderated
Related Questions
On January 1, 2013, NewTune Company exchanges 15,000 shares of its common stock for all of the outstanding shares of On-the-Go, Inc. Each NewTune''s shares has a $4 par value and a

On July 1, 2010, Spear Co. issued 1,000 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2010 and mature on April 1, 2020. Interest is payable sem

Problems due to Piecemeal realizations These interim distributions give rise to two problems: Partners have not always contributed capitals in the same ratio as that in w

Illustrations of Changes in accounting estimates B Ltd., bought an item of plant at a total cost of £100,000. The estimated useful life commencing from 1st January 2000 was 10


How would the following errors affect the account balances and the basic accounting equation: assets = liabilities + owners' equity? How do the misstatements affect income? 1. The


Assume that you are interested in understanding how much must be saved regularly over a period of time in order that at the ending of the period you have a particular amount. To an

a,b,c carried on business and their profit and loss ratio 3:4:5.they decided dissolve the partnership as on 1st july,2011.the following balance sheet..... creditors-10000 loan A/c-

HOW TO RECORD INVENTORY AT NET REALISABLE VALUE ON JOURNAL