Accountancy, asked by sayyedabdulsamad16, 4 months ago

solve this Question ok Admission of Partner's Revaluation A/C

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Answered by amangarnayak04

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Important Questions for CBSE Class 12 Revaluation of Assets and Re-assessment of liabilities

December 17, 2015 by Sastry CBSE

Reconstitution of a partnership Firm:Admission of a partner Important Questions for CBSE Class 12 Revaluation of Assets and Re-assessment of liabilities

1. Meaning of Revaluation Account The account which is prepared to record changes in the value of assets and liabilities at the time of admission, retirement, death and change in profit sharing ratio is called revaluation account.

2. Accounting Treatment

The relevant journal entries are:

important-questions-for-class-12-accountancy-cbse-revaluation-of-assets-and-re-assessment-of-liabilities-t3-1

important-questions-for-class-12-accountancy-cbse-revaluation-of-assets-and-re-assessment-of-liabilities-t3-2

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