Accountancy, asked by keerthiverma5645, 9 months ago

What is the reason for new profit Sharing ratio in memorandumrevaluation

Answers

Answered by sanket303644

Answer:

HERE IS UR ANS...

Explanation:

Memorandum Revaluation Account is prepared when at the time of admission/retirement the partnership firm does not want to change the values of assets and liabilities in the balance but wants to give its effect through partners' capital accounts.

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