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At what values, the assets and liabilities are shown in the books of reconstituted firm in case ‘Revaluation Account’ is prepared?

Anurag Pathak
July 18, 2023
[ISC] Admission of Partner, [ISC} TS Grewal Solutions, Accountancy Class 12th

860 viewsJuly 18, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

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Anurag Pathak28.36K July 18, 2023 0 Comments

At what values, the assets and liabilities are shown in the books of reconstituted firm in case ‘Revaluation Account’ is prepared?

Anurag Pathak Changed status to publish July 18, 2023

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Anurag Pathak28.36K Posted July 18, 2023 0 Comments

When Revaluation Account is prepared, the Assets and Liabilities are shown at their revised (revalued) values in the Balance Sheet of new firm.

Anurag Pathak Changed status to publish July 18, 2023

Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.