MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Adjustments in Partner's Capital Accounts

In case of re...

Question

In case of revaluation loss, it should be borne by

A

Goodwill

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

B

Investment

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Fixed Assets

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

stock

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A
Goodwill

In case of revaluation loss, it should be borne by existing partners

Suggest Corrections

thumbs-up

0

Similar questions

Q. Profit/Loss on Revaluation of Assets & Liabilities is shared by the old partners in their _______.

Q. Why Revaluation Account is credited on transfer of loss arising from revaluation of assets and reassessment of liabilities?

Q. The idea of revaluation of asset in case of retirement was that all compensation to the retiring partner should be based on the value of assets.

Q. Arrange assets in the order of permanence:
Sundry Debtors, Stock, Investment, Land and Building, Cash in Hand, Motor Vehicle, Cash at Bank, Goodwill, Plant and Machinery, Furniture, Loose Tools, Marketable Securities.

Profit/loss on revaluation of assets is shared by the old partners in their :

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Accounting Treatment

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Adjustments in Partner's Capital Accounts

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon