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Standard XII

Accountancy

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On admission ...

Question

On admission of A, a new partner, the value of closing stock was brought down by Rs.6,500. The revaluation a/c will be ______.

Debited by Rs. 6000

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Debited by Rs. 6500

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Debited by Rs. 650

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Debited by Rs. 655

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Solution

The correct option is B Debited by Rs. 6500
On admission of A new partner,
If there is a decrease in the closing stock by 6500.
Then, the Journal Entry in such case will be
Revaluation a/c Dr. 6500
To Stock a/c 6500

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On admission of A, a new partner, the value of closing stock was brought down by Rs.6,500. The revaluation a/c will be ______.

The correct option is B Debited by Rs. 6500On admission of A new partner, If there is a decrease in the closing stock by 6500.Then, the Journal Entry in such case will beRevaluation a/c Dr. 6500 To Stock a/c 6500

The correct option is B Debited by Rs. 6500
On admission of A new partner,
If there is a decrease in the closing stock by 6500.
Then, the Journal Entry in such case will be
Revaluation a/c Dr. 6500
To Stock a/c 6500