On firm rsquo s dissolution which one of the following account should be prepared at the last ........

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On firm’s dissolution, which one of the following account should be prepared at the last?

Realisation Account

Partner’s Capital Accounts

Cash Account

Partner’s Loan Account

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Explanation:

- Realisation Account: This account is used to calculate profit or loss during a firm's dissolution by recording all assets, liabilities, and expenses.

- Partner’s Capital Accounts: These accounts show the final settlement to be made to each partner based on their share of profits or losses.

- Cash Account: This account tracks cash transactions, showing the final cash position after all payments and receipts. It is usually prepared last to verify transactions and fix cash balances.

- Partner’s Loan Account: Reflects adjustments for any loans from partners before settling their capital balance.

Correct Answer: "Option: 3, Cash Account"