Accountancy, asked by Damanpreet111, 1 year ago

how to make revaluation account

Dhvaniveer: In case of Revaluation of assets and liabilities, Revaluation account is prepared. It is also called Profit and loss adjustment account.

Revaluation account is a nominal account prepared for the purpose of distributing and transferring the profit or loss arising out of increase or decrease in the book value of assets and/ or liabilities of the partnership firm at the time of Change in profit sharing ratio, admission of a partner, retirement of a partner as well as at the time of

Dhvaniveer: of a partner.

Preparation of revaluation account

Since it is a nominal account, it is easy to construct its format.

Particulars( Losses)

₹

Particulars(Gains)

Decrease in asset

Increase in liability

Unrecorded liability

Balance(profit)

Increase in asset

Decrease in liability

Unrecorded Asset

Balance (loss)

Answers

Answered by shruti0011

by getting verified

Damanpreet111: pls send me full revaluation Account m not able to get the adjustments

Anonymous: how do you get verified? ??

Answered by Anonymous

Your answer is in the attachment dear. Please mark it as brainliest!!!

Attachments:

Dhvaniveer: welc

Dhvaniveer: Yes

Dhvaniveer: We will talk letter

Previous Question

Next Question