Accountancy, asked by rajkumarvastrakar27, 5 days ago

revaluation a/c is made

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Answered by somyakumarijha7579

Answer:

Revaluation a/c is prepared to find out the true value of assets and liabilities.So whenever there a adjustments regarding regarding increase or decrease of assets and liabilities revaluation a/c has to be prepared. suppose a and b are partners. its balance sheet value now after dep. is 50000.

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