The balance of Revaluation Account or Profit & Loss Adjustment Account is transferred to Old Partners’ Capital Accounts in their :
A. Old profit-sharing ratio
B. New profit-sharing ratio
C. Equal ratio
D. Capital ratio
Answer:A
The balance of Revaluation Account or Profit & Loss Adjustment Account is transferred to Old Partners’ Capital Accounts in their :
A. Old profit-sharing ratio B. New profit-sharing ratio C. Equal ratio D. Capital ratio