Dissolutions situations, Financial Accounting

Assignment Help:

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.


Related Discussions:- Dissolutions situations

Ticket Id - EM131058373M27, hello, i have got my answer, but i don''t know ...

hello, i have got my answer, but i don''t know the PART C why doesn''t calculate "working capital: 60000"?????? can not find match number in the solution table

Illustration of admissions and retirements, Illustration of Admissions and ...

Illustration of Admissions and Retirements Jim and Ken have been trading in partnership for several, sharing profits or losses equally after allowing for interest on their capi

Weighted average cost of equity, The discount rate used must normally refle...

The discount rate used must normally reflect the weighted average cost of equity and debt taking into account the systematic risk of the investment. A company's weighted average co

Illustration of marked up by an additional amount, Illustration of marked u...

Illustration of marked up by an additional amount E Limited sent goods to its branch in Thika invoiced at selling price, which was cost plus 505 of cost.  On 1st July 20X2, the

Show the calculations and journal entries, In the current year, Company A i...

In the current year, Company A is formed with $630,000 in capital from the sale of 21,000 shares of stock at $30 a share. Company A, which has no other operations, immediately acqu

Budget, the following information relates to Thomas limited who decide to c...

the following information relates to Thomas limited who decide to commence business on 01 January 2016 with R375000 cash: what is his budget for February, march, April?

Journal entry, Clemens Cars' job cost sheet for job A40 shows that the cost...

Clemens Cars' job cost sheet for job A40 shows that the cost to add security features to a car was $10,500. The car was delivered to the customer, who paid $14,900 in cash for the

Recieving order., 1.The debtor retains ownership, but loses possession and ...

1.The debtor retains ownership, but loses possession and control of his property

Preliminary expenses through the income statement, Alexandria Co. Ltd has a...

Alexandria Co. Ltd has an authorized capital of Rs 25,000,000 divided into 250,000 equity shares of Rs 100 each. 100,000 shares were issued to public and Rs 80 per share were paid.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd