A , a partner takes the Investments at an agreed value of Rs 30,000. pass necessary journal entry. *
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assuming that the firm already had a stock of investment as 40,000
if A takes away the investment at 30,000. the firm has incurred a loss of 10,000
therefore the 10,000 would be debited in revaluation account.
the journal entry is
revaluation 10000
to investment 10000
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