Maharashtra Board Class 12th Solutions for Accountancy Chapter 6 Dissolution of Partnership Firm – Download PDF with Solutions
One of the most important chapters included in the syllabus of Class 12 Maharashtra Board is called Dissolution of Partnership Firm. The chapter effectively describes the final stage of a business closure. When the partnership relations between the partners of the firm come to an end, it results in the dissolution of the partnership and firm. In this chapter, students will be able to understand the procedures included in the dissolution of the firm. To get into more details, students can get some help from Vedantu.
Download the important notes and solutions provided by the subject matter experts at Vedantu and understand the chapter easily. These notes have been created by expert teachers who are well-versed with the topic. The notes and solutions act as resourceful study materials for students who want to understand the chapter easily. Download Maharashtra Board 12th Textbook Solutions Chapter 6 Dissolution of Partnership Firm today.
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FAQs on Maharashtra Board Class 12 Solutions for Accountancy Chapter 6 Dissolution of Partnership Firm - PDF
1. What is the dissolution of a partnership firm?
The dissolution of a partnership firm refers to the situation where the relationship between all the partners of the firm is dissolved.
2. What are the different modes of dissolution of a firm?
The different modes for dissolution of firms include mutual agreement, by notice, dissolution by the court, compulsory dissolution, etc.
3. What is the accounting treatment on the dissolution of the firm?
The following accounts are prepared during the beginning of the process of dissolution:
Partner’s loan A/c
Partner’s capital A/c
Bank or cash A/c
4. Where are unrecorded liabilities debited when it is paid?
The unrecorded liabilities will be debited to the Realization Account.
5. Where are the dissolution expenses credited to?
The expenses for the dissolution are credited to Cash/Bank Account.