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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationEasy

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If warehouse value decreased from ₹60000 to ₹52000 then which side of Revaluation Account is affected?

Answer and explanation

Correct answer: Debit side ₹8000

Decrease in warehouse is ₹8000 so it is a loss and goes to debit side. Treat asset decrease as loss.

Related tags

Warehouse-Decrease Numerical Debit-Side Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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