Identify the correct sequence to be followed at the time of Dissolution of Partnership firm:

(A) Payment of Partner's Loan Account
(B) Realisation of Assets
(C) Prepare Cash/Bank Account
(D) Prepare Partner's Capital Account
(E) Payment of outsiders liability

Choose the correct answer from the options given below :

(B), (E), (A), (D), (C)

* First of all, realization account is prepared to realize the assets and liabilities.
* After the realisation of assets, Outsider liability are paid off.
* After settling all outsider liabilities, partner's loan is settled so the partner's loan is made at the second number.
* After settling partner's loan account, partner's capital account is settled so their capital account is made.
* At last bank or cash account is made. No balance is left in cash or bank account as all the claims of the firm are settled.