Liquidation of a Partnership 合伙企业的清算
The following actions must be taken to account for the dissolution of a partnership properly:
Sell Non-Cash Assets [In general, these are assets that are not easily converted into cash unless there is a drastic price reduction] for cash
Applying the Profit-Sharing Ratio, allocate any gain or loss from the sale of noncash assets to each partner.
Pay any liabilities that are owed by the partnership.
Proceed by dividing the remaining funds among the partners per the Profit-Sharing Ratio.
出售非现金资产 [一般来说，这些是不容易转化为现金的资产，除非价格急剧下降] 以换取现金；
As an illustration, let's say a partnership has two partners, partner Chin and partner Tan.
They share the partnership's net revenue and losses proportionally (the Profit-Sharing Ratio is 1:1). Furthermore, their respective capital balances are RM50,000 and RM60,000.
The partnership has:
cash balance of RM20,000;
non-cash assets of RM140,000; and
liabilities of RM50,000.
The partnership is dissolved, and noncash assets are sold for a total of RM100,000.
现金余额 - 20,000令吉；
非现金资产 - 140,000令吉；以及
负债 - 50,000令吉。
Step 1: Sell illiquid [non-cash] assets for cash 出售非现金资产以套现
The selling of the non-cash assets with a value of RM140,000 for only RM100,000 results in a loss on sale of RM40,000.
The following would be what the loss on sale of non-cash assets would be recorded as in the bookkeeping journal with double entries:
Step 2: Applying the Profit-Sharing Ratio, allocate any gain or loss from the sale of noncash assets to each partner 应用利润分配比率，将出售非现金资产的任何收益或损失分配给每个合伙人
After that, the Profit-Sharing Ratio is used to determine how much of the loss on the sale of the non-cash assets should be allocated to each partner.
The following would be the entries in the double-entry bookkeeping journal that would be used to record the allocation of the loss to each partner:
Step 3: Pay any liabilities that are owed by the partnership 支付合伙企业尚拖欠的任何债务
Following the sale of the non-cash assets, the cash available to the partnership is equivalent to a total of RM120,000, which is comprised of:
the opening balance of RM20,000; and
the money obtained from the sale of the non-cash assets was RM100,000.
This cash is utilised to settle the liabilities of RM50,000, leaving a residual balance of RM70,000 to be distributed [RM120,000 minus RM50,000].
期初余额 - 20,000令吉；以及
出售非现金资产获得的资金 - 100,000令吉。
这笔现金被用来清偿 50,000令吉的负债，剩下 70,000令吉的剩余资金将被分配 [金额为120,000令吉减去50,000令吉]。
The following would be the entries that would be made in the double-entry bookkeeping journal to record the payment of the liabilities:
Step 4: Proceed by dividing the remaining funds among the partners per the Profit-Sharing Ratio 将剩余的资金按照利润分配比例在合伙人之间进行分配
The remaining cash of RM70,000 is paid out to the partners using the Profit-Sharing Ratio.
The following would be the entries in the double-entry bookkeeping journal that would be used to record the distribution of the leftover funds to each partner:
Once all of the remaining cash from the partnership has been distributed and the journal entries that need to be made, the partnership will become zero assets and zero liabilities, allowing it to be dissolved without any problems.
In practice, winding up typically takes a significant amount of time.
If the shareholders of a partnership don't intend to keep running the company, it is in their best interest to make preparations for exit strategies as soon as possible.