In dissolution if the following funds are given in the balance sheet in the question do we transfer them to the realisation account OR divide it among the partners?
1) Leasehold Redemption Fund
2) Machinery Depreciation fund
3) Joint Life Policy Fund
4) Investment Fluctuation Fund
5) Employees Provident Fund.

if there is a claim regarding the same like there is investment and investment fluctuation reserve then IFF will be transfered to realisation acc but if there is no investment in balance sheet then IFF is transferred to partners capital acc
  • 7
Employees provident fund will not come in realisation account
  • 3
Joint life policy fund come in realisation Debit side
  • 0
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