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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationMedium

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To whom is loss on revaluation debited?

Answer and explanation

Correct answer: Old partners' capital in old ratio

Revaluation loss belongs to old partners because the change relates to the period before admission. Debit it in old ratio.

Related tags

Revaluation Loss Old Ratio Capital Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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