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If the debit side of Revaluation Account exceeds credit side by ₹18000 to whom and how is it transferred?

Answer and explanation

Correct answer: Debited to old partners in old ratio

When debit is higher there is loss and it is debited to old partners in old ratio. New partner does not bear old revaluation changes.

Related tags

Revaluation LossOld RatioTransferAsset RevaluationReconstitution Admission Of A PartnerAccountancyClass 12 Mcq

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