Title: Record the dissolution of a partnership.
Course: Accounting, Advanced (12104-II) > Section: Implementing Accounting for a Partnership

Recording should include

- calculating the equity of the partners
- recording related journal entries, including
  - gains or losses from the sale of non-cash assets added or deducted from the capital accounts of the partners
  - payments to creditors
  - distribution of the remaining cash to the partners, based on the final balance in the partners’ accounts.