Accountancy, asked by saketrajput7310, 1 month ago

Why gaining pertner debited when death of partner

Answers

Answered by anushka6912

1

Answer:

This account records the revised values of assets and liabilities, so that the deceased partner's heir can be paid his share of profits that the firm has earned till the date of his death. ... Explanation: Excess of credit side over debit side of Revaluation Account is regarded as profit on revaluation.

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