In accounts(Revaluation+Partners capital Accounts+Balance Sheet) when a adjustment is Value of abuilding is to be appreciate @20%p.a.Then what I do
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Explanation:
Building A/c. Dr (20% of building)
To Revaluation A,/c
Profit on revaluation will be transferred to Partner's capital/current accounts in their old ratio.
Building will be increased by 20% in balance sheet.
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