Dissolution of partnership & liquidation of partnership property
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1-What is the difference between the dissolution of a partnership and the liquidation of partnership property? After liquidating all property and paying partnership obligations, what is the basis for allocating remaining cash among the partners?
2-When a partner withdraws from a partnership, why is the final distribution often based on the appraised value of the business rather than on the book value of the capital account balance?
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The solution discusses the difference between dissolution of partnerships and liquidation of partnership property. The basis for allocating remaining cash among the partners are found.
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1-What is the difference between the dissolution of a partnership and the liquidation of partnership property? After liquidating all property and paying partnership obligations, what is the basis for allocating remaining cash among the partners?
A dissolution refers to the cessation of a partnership. In many cases, this process is simply a preliminary step in the transfer of business property to a newly ...
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- BA, Ain Shams University, Cairo Egypt
- MBA, California State University, Sacramento
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