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What are the accounting implications when a partnership dissolves or one of the partners dies? How should the partnership's assets and liabilities be divided among
What are the accounting implications when a partnership dissolves or one of the partners dies? How should the partnership's assets and liabilities be divided among the remaining partners or the deceased partner's estate, and how should any remaining profits or losses be allocated? How does this differ if the partnership has a buy-sell agreement in place? Can you provide an example of how these transactions would be recorded in the partnership's books?
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