A firm has an unrecorded investment of ₹ 10,000. Journal entry to record the unrecorded investment on admission of a partner will be:
A firm has an unrecorded investment of ₹ 10,000. Journal entry to record the unrecorded investment on admission of a partner will be:
a)
Revaluation A/c Dr. ₹ 10,000
To Unrecorded Investment A/c ₹ 10,000
b)
Unrecorded Investment A/c Dr. ₹ 10,000
To Revaluation A/c ₹ 10,000
c) Partner’s Capital A/c Dr. ₹ 10,000
To Unrecorded Investment A/c ₹ 10,000
d) None of the above
Anurag Pathak Changed status to publish June 1, 2023
Ans – b)
All unrecorded assets are credited to Revaluation Account at the time of reconstituted of the partnership firm.
Anurag Pathak Changed status to publish June 1, 2023
