What is the entry for transferring the revaluation surplus ?

None of the above

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Partners current accounts = Debit and Revaluation surplus = Credit

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Partners capital accounts = Debit and Revaluation surplus = Credit

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Revaluation = Debit and Partners capital accounts = Credit

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Solution

The correct option is D
Revaluation = Debit and Partners capital accounts = Credit

The journal entry will be:
Revaluation A/c Dr
To Old Partner's Capital A/c

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Similar questions

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What is the entry for transferring the revaluation surplus ?

The correct option is D Revaluation = Debit and Partners capital accounts = Credit The journal entry will be: Revaluation A/c Dr To Old Partner's Capital A/c

The correct option is D
Revaluation = Debit and Partners capital accounts = Credit

The journal entry will be:
Revaluation A/c Dr
To Old Partner's Capital A/c