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Question
Treatment of the following on admission of new partner:
| (i) | Increase in value of Machine | (a) | Dr. Revaluation Account |
| (ii) | Provision for doubtful debts no longer required | (b) | Cr. Revaluation Account |
| (iii) | Unrecorded Investment | (c) | No change |
Match the Columns
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Solution
| (i) | Increase in value of Machine | (b) | Cr. Revaluation Account |
| (ii) | Provision for doubtful debts no longer required | (b) | Cr. Revaluation Account |
| (iii) | Unrecorded Investment | (b) | Cr. Revaluation Account |
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