Partnership

General Accounting Principles

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Indian Economy - Understanding the basics of Indian economic system

In the case of admission of a partner, the entry for unrecorded investments will be

Debit Partner Capital A/cs and Credit Investment A/c

Debit Revaluation A/cs and Credit Investment A/c

Debit Investment A/cs and Credit Revaluation A/c

None of the above

At the time of admission of partner unrecorded investment entered in revaluation A/c
Its recorded in credit side of revaluation A/c as unrecorded investment A/c
Meaning of revaluation A/c - For revaluation of Assets and Liabilities , a 'Revaluation account' is prepared. This account is credited with the all increases in the value of assets and decreases in the value of liabilities. It is debited with the decrease in the value of assets and the increase in the value of liabilities.