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Question
Give the Accounting Entry for Unrecorded Assets in Case of Reconstitution of a Partnership Firm.
Give the Accounting Entry for Unrecorded Assets in Case of Reconstitution of a Partnership Firm.
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Solution
The following entry will be passed:
Sundry Assets Dr.
To Revaluation A/c
(Being Unrecorded asset recorded)
Also read:
- Difference Between Partnership Firm and Company
- Reconstitution of a Partnership Firm Admission of a Partner
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
The following entry will be passed:
Sundry Assets Dr.
To Revaluation A/c
(Being Unrecorded asset recorded)
Also read:
- Difference Between Partnership Firm and Company
- Reconstitution of a Partnership Firm Admission of a Partner
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
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