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-Determination of each partner's capital balance that is brought down for the purpose of adjustment
-Closure of all nominal accounts and the respective totals to transfer the profit and loss account
-Preparation of realisation account
-Treatment of payments made to creditors
-Distribution of gains and losses on realisation among the partners respective capital accounts
The final distribution of bank and cash balances among the partners
Wincate 1 answered the question on October 12, 2017 at 15:48
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