Page 13 - LN DISSOLUTION OF FIRM

Note

· In the absence of any other information “Sundry Assets” should be
treatment as balancing figure on the assets side of Balance Sheet.

· If the balance of Partners’ Capital A/cs are not given as on the date on

dissolution, first we will find the balance of partners’ capital accounts as

on the date of dissolution by recasting the capital accounts.
· When “Sundry Assets” are given in the question and nothing is specified

about the difference on the asset side of Balance Sheet, the different

should be treated as Dr. balance of Profit and Loss A/c