(In Hindi)Revaluation Account for Partnership Accounting with Journal Entries by JOLLY Coaching

Описание: Revaluation of Assets and liabilities is really very important concept used in Partnership Accounting. Revaluation Account is prepared to recheck the values of assets and liabilities available in the balance sheet.

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Revaluation Account is prepared under following cases
1. When there is change in profit sharing ratio of partners
2. Admission of new partner
3. Death of a partner
4. Retirement of a partner

In all above cases Revaluation Account is prepared, along with revaluation account you may also asked to pass the journal entries for recording the revaluation transactions.

In short Revaluation Account is a account which is prepared to record the changes in the value of assets and liabilities. It is major prepared at the time when the changes takes place in profit sharing ratio of partners, admission of new partner and at the time of death or retirement of the partner .

This video provide you a detailed concept of revaluation Account, the steps to prepare revaluation Account, journal entries which need to pass and also a new balance sheet of new values.
I hope after watching this video you are able to prepare Revaluation Account along with journal entries and new balance sheet of firm.
Thanks
JOLLY Coaching.


























































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