Question : At the time of death of a partner investment value Rs 10,000 were sold at Rs 22,000. The revaluation account will be --------
Option 1: Debiting by Rs 22,000
Option 2: Crediting by Rs 12,000
Option 3: Debiting by Rs 12,000
Option 4: None of the above
Answer (1)
11th Jan, 2024
Correct Answer: Crediting by Rs 12,000
Solution : Answer = Crediting by Rs 12,000 .
Bank A/c Dr. 22000
To Investment A/c 10,000
To Revaluation A/c 12000
Hence, the correct option is 2.
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