Question

On which side of revaluation account does a profit appears

Answer 1

Answer:

If the credit side is more than debit side there is profit and if the debit side is more than the credit side there is a loss. Transfer the Profit or loss of revaluation account to the partners capital accounts (old partners account) in their old profit sharing ratio.

Explanation:

Answer 2

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If the credit side is more than debit side there is profit and if the debit side is more than the credit side there is a loss. Transfer the Profit or loss of revaluation account to the partners capital accounts (old partners account) in their old profit sharing ratio.