Admission of A Partner- Revaluation Account Class 12th Accounts Part-8 Session 2024-25
Автор: MS Academy Accounts
Загружено: 2024-06-15
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Admission of A Partner- Revaluation Account Class 12th Accounts Part-8 Session 2024-25
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At the time of admission of a partner Suresh, assets and liabilities of Ramesh and Naresh were revalued as follows:
(a) A Provision for Doubtful Debts @10% was made on Sundry Debtors (Sundry Debtors 50,000).
(b) Creditors were written back by ₹ 5,000.
(c) Building was appreciated by 20% (Book value of Building 2,00,000).
(d) Unrecorded Investments were valued at 15,000.
(e) A Provision of 2,000 was made for an Outstanding Bill for repairs.
(f) Unrecorded Liability towards suppliers was₹ 3,000.
Pass necessary Journal entries.
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