Accountancy, asked by nitishschoolthepupil, 19 days ago

pls don't spam and send the correct answer fast....

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Answered by ηιѕн
2

(i) Revaluation A/c        Dr.                         5000

        To Provision for doubtful debts               5000

(Being increase in liabilities recorded in the revaluation account)

(ii) Creditore A/c          Dr.                           5000

        To Revaluation A/c                                   5000

(Being increase in assets transferred to revaluation account)

(iii) Building A/c          Dr.                           40000

        To Revaluation A/c                                  40000

(Being increase in assets transferred to revaluation account)

(iv) Investment A/c   Dr.                             15000              

       To  Revaluation A/c                                    15000

(Being increase in assets transferred to revaluation account)

(v) Revaluation A/c  Dr.                                2000                

         To provision for repairs A/c                      2000

(Being increase in liabilities recorded in the revaluation account)

(vi) Revaluation A/c  Dr.                               3000

          To Creditors A/c                                       3000

(Being increase in liabilities recorded in the revaluation account)

(vii) Revaluation a/c....                               Dr.                   50000

           To A's Capital a/c                                                             25000

            To B's Capital a/c                                                            25000

(Being profit on revaluation distributed among the partners in the ratio of 1:1)

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