On the admission of a new partner, increase in the value of Assets is debited to: [1]
A. Profit and Loss Adjustment A/c
B. Assets A/c
C. Old partner’s capital A/c
D. None of the above
Answer:B
On the admission of a new partner, increase in the value of Assets is debited to: [1]
A. Profit and Loss Adjustment A/c B. Assets A/c C. Old partner’s capital A/c D. None of the above