In case of dissolution of a firm, it needs to close all its books of accounts.
On dissolution of the firm, partner’s capital accounts are closed through _________
An accountant of a firm,maintaining its books under accrual basis,does not want to account salaries amounting to Rs.20,000 for the month of March 2016,on the grounds,that it was not paid.The firm closes its books on 31st March every year.Is the accountant correct in doing so?
Do we need to calculate the value of goodwill in case of dissolution of the firm?