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Dissolutions situations
There are two situations that need to be considered under dissolutions. These are:-1) Where the assets are sold at once (one single transaction)2) Assets are sold on piece meal basis.Under this situation, the partners are able to get a single buyer who buys al the assets in a single transaction. The buyer could be an individual, sole trader, another partnership or a company. this kind of situation is straightforward because the partners can be able to determine profit or loss on dissolution immediately.
Copper Suppliers, Inc. (CS), is a distributor of commercial grade copper. CS purchases copper directly from copper mines and then after refining it, sells the refined copper to in
some lectures on branch accounting chapter of advance accounting or way how to do journal entries or way of branch accounting??i m totally unaware of this chapter and want to study
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Illustration of double entry The balances on the current accounts of a head office and branch were Ksh 698,000, before the transactions listed below: Normal 0
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