Pls answer the 4th part as soon as posiible
Dear student
In part no 4. No entry is required because when any asset compensate with any liabilities with full settlement then no entry is passed at the time of dissolution . Here loan of ravi is assets for the firm and creditor is liabilities for the firm.
Regards
In part no 4. No entry is required because when any asset compensate with any liabilities with full settlement then no entry is passed at the time of dissolution . Here loan of ravi is assets for the firm and creditor is liabilities for the firm.
Regards