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 ??
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Amalgamation of Parnership firms
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i think u will not get any marks for that
thats fine.. u can do it either way.. Coz in some books ur method is also followed
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