Accountancy, asked by dashy99rahul, 1 month ago

Partnership revaluation

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Answered by mantasharahman375

0

Answer:

Quick Reference. In a partnership to which a new partner is admitted or if an existing partner dies or retires, assets and liabilities must be revalued to their current market value. The differences between historical values and the revaluations are debited or credited to the revaluation account.

Answered by prarthanagohil312

0

Answer:

Quick Reference. In a partnership to which a new partner is admitted or if an existing partner dies or retires, assets and liabilities must be revalued to their current market value. The differences between historical values and the revaluations are debited or credited to the revaluation account.

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