A partnership on admitting a new member, revalued the bus...
A partnership on admitting a new member, revalued the business' land and building from N30,000 to N70,00. The difference of N40,000 should be
Credited to land and building account
Debited to asset revaluation account
Credited to asset revaluation account
Credited to profit and loss appropriation account
Correct answer is B
No explanation has been provided for this answer.
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