Please tell me in case of partnership firms if there is revaluation of Assets & Liabilities ,then do we need to open Revaluation A/c .In xams, I directly posted the changes in value of individual Assets & Liabilities to Partner's capital A/c in their profit sharing ratio without opening the revaluaton A/c .Will i get any marks for it ??
Menu
Amalgamation of Parnership firms
Replies (2)
thats fine.. u can do it either way.. Coz in some books ur method is also followed
Recent Topic
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
- Internal reconstuction
- IDS Refund – Annexure B & GSTR-3B Match,
- Can i should STCG and LTCG as business income ?
- Capital contribution in Firm
- Form 3CD – Clause 20(b) | ESI Contribution &
- Capital Gains on Dissolution of Partnership
- GST Payment through DRC-03 by cash against notice
- Schedule EI for ITR1
Related Topics
CAclubindia
