Question

(Ans. Loss on
2. Prepare Revaluation Account of a firm of partner A and B :
Creditors gave up claim 4,000 ; Bills payable reduced by 2,000 ; Salary outstanding not
yet recorded in the books * 500 ; Building 1,00,000 increased to 1,10,000 ; Machinery
50,000. Half of machinery was valued at 28,000 and the other half was written off by
7,000 ; Prepaid Insurance 1,500 not yet recorded in the book.
[Ans. Revaluation Profit 13,000]​

Answer 1

Answer:

means be clear bro please

Answer 2

prepare revaluation account