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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationMedium

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If plant value increases from ₹180000 to ₹195000 what will happen in revaluation account?

Answer and explanation

Correct answer: Credit ₹15000

Increase in asset is a gain and revaluation account is credited. Record only the difference of ₹15000.

Related tags

Plant Increase Revaluation Numerical Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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