Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

48. In the absence of any contract to the contrary, profit on dissolution of a partnership firm is credited to the partner's capital accounts: A.

image text in transcribed

image text in transcribed

48. In the absence of any contract to the contrary, profit on dissolution of a partnership firm is credited to the partner's capital accounts: A. In the ratio of their capitals just before dissolution B. In the ratio of their capitals as originally contributed by them C. In their profit sharing ratio D. None of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics

Authors: Mark Hirschey

12th edition

9780324584844, 324588860, 324584849, 978-0324588866

More Books

Students also viewed these Accounting questions