treatment of IFF in dissolution of firm. I am not understand with you study material of JLP. so explain me different cases
There are two cases of IFF.
1. Investments and IFF both appear in the Balance Sheet: Transfer Investments on the debit side of Realisation Account and IFF on the credit side of Realisation Account.
2. Only IFF appears in the Balance Sheet: Transfer it to credit side of Partners' Capital Accounts.
2. Only IFF appears in the Balance Sheet: Transfer it to credit side of Partners' Capital Accounts.