Dissolution of Firm | CA Intermediate Advanced Accounting Chapter - 2 | ICAI Exams | Chandan Poddar

In This Video We Will Discuss the Dissolution of the Firm all Concepts, Examples and Problems for CA Intermediate and CA Intermediate Advanced Accounting Chapter - 2 (Unit 1) have been Discussed by Chandan Poddar Sir For CA Intermediate Grooming Education. ⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝐀𝐝𝐯. 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐈𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥 𝐂𝐨𝐮𝐫𝐬𝐞 https://www.escholars.in/p/advanced-a... ⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎 𝐁𝐨𝐭𝐡 𝐆𝐫𝐨𝐮𝐩 https://www.escholars.in/p/ca-interme... ⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎: 𝐆𝐫𝐨𝐮𝐩 𝟏 https://www.escholars.in/p/ca-inter-g... ⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎: 𝐆𝐫𝐨𝐮𝐩 𝟐 https://www.escholars.in/p/ca-inter-g... ⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝐈𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥 𝐂𝐨𝐮𝐫𝐬𝐞𝐬 https://www.escholars.in/store/ca-int... ⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝐒𝐮𝐠𝐠𝐞𝐬𝐭𝐞𝐝 𝐀𝐧𝐬𝐰𝐞𝐫𝐬 https://www.escholars.in/store/ca-int... ⚫ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐨𝐮𝐫 𝐄𝐬𝐜𝐡𝐨𝐥𝐚𝐫𝐬 𝐀𝐈 𝐀𝐩𝐩 https://play.google.com/store/apps/de... Watch Next:- ⚫ Internal Reconstruction:-    • Internal Reconstruction Chapter In Single ...   ⚫ CA Inter Advanced Accounts Chapter wise Weightage:-    • Video   Time Stamps: 00:00 Introduction. 00:56 Meaning of dissolution. 01:47 Difference between dissolution of firm & dissolution of partnership. 05:38 When is the dissolution of the firm? 13:41 Accounting for dissolution of firm. 16:48 Journal entries. (to close the books of accounts) 25:36 Realization of asset. 46:11 Realization of liability. 49:34 Realization expanses. 58:00 Treatment of reserves & funds. 01:15:15 Practice questions. Topic Covered: Dissolution of Firms Complete Question on Dissolution of Firm The dissolution of a partnership firm is said to be dissolved when the relationship between the partners is terminated. In case of dissolution, the firm ceases to exist. The process of dissolution includes disposing of the assets and the liabilities are paid off. The firm discontinues all of its activities and no partner has any relation with the other partners. The dissolution of a partnership firm is different from the dissolution of the partnership. In case of dissolution of a partnership, the partnership agreement among the partners is terminated due to the following reasons: Admission of a new partner Insolvency, retirement or death of a partner Change in existing profit ratio On completion of a specific venture for which the partnership was formed. On the expiry of the period for which partnership was formed. The other partners can continue the business by entering into a new agreement. A partnership can be dissolved without dissolving the firm. The dissolution of partnership means a change in partnership whereas the dissolution of a partnership firm means discontinuance of a firm’s business. According to Sec 39 of The Partnership Act, 1932 the dissolution of the partnership between all the partners of a firm is called the ‘dissolution of the firm‘. After this, A partnership firm cannot do any kind of business activity with anybody. It can only dispose of the assets of the firm to realize the amount, pay the liabilities of the firm, and discharge the claims of the partners. 1. Dissolution by Agreement: A partnership firm may be dissolved if all the partners agree for the dissolution or in accordance with the terms of the agreement. 2. Dissolution by notice: When a partnership is formed at will, the dissolution of the firm may take place if any of the partners gives a notice in writing to the other partners indicating his intention to dissolve the firm. 3. Contingent Dissolution: In this case, a partnership may be dissolved on the happening of any of the following contingencies: On the expiry of the term, if the partnership is formed for a fixed term. On the completion of a specific venture for which the partnership was formed. On the death of a partner CA Intermediate: Grooming education academy is engaged in providing qualitative commerce education to society at concessional prices. We believe in Research, reasoning and result and thus our learners admit our USP of: "Pioneer in developing concepts". We provide the complete tutorials for CA Intermediate. To know about the courses and books that best suits your requirement call at our helpline number: 𝟖𝟖𝟖 𝟖𝟖𝟖 𝟎𝟒𝟎𝟐 𝐕𝐢𝐬𝐢𝐭 𝐎𝐮𝐫 𝐖𝐞𝐛𝐬𝐢𝐭𝐞 to know more about the courses available: https://www.escholars.in/ 𝐉𝐨𝐢𝐧 𝐨𝐮𝐫 𝐭𝐞𝐥𝐞𝐠𝐫𝐚𝐦 𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐟𝐨𝐫 𝐝𝐚𝐢𝐥𝐲 𝐮𝐩𝐝𝐚𝐭𝐞𝐬::: https://t.me/CAIntermediateGrooming 𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤 𝐏𝐚𝐠𝐞:   / groomingeducationacademy   𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦 𝐏𝐚𝐠𝐞: https://www.instagram.com/groomingedu... 𝐓𝐰𝐢𝐭𝐭𝐞𝐫 𝐏𝐚𝐠𝐞:   / academygrooming   𝐋𝐢𝐧𝐤𝐞𝐝𝐈𝐧 𝐏𝐚𝐠𝐞:   / grooming-education-academy   𝐏𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐏𝐚𝐠𝐞: https://www.pinterest.de/groomingeduc... #cainter #Dissolution_of_firm #advancedaccounting #ChandanPoddar