Any loss on revaluation is (A) Credited to old partners in old profit-sharing ratios (B) Credited to
Question:
Any loss on revaluation is
(A) Credited to old partners in old profit-sharing ratios
(B) Credited to new partners in new profit-sharing ratios
(C) Debited to old partners in old profit-sharing ratios
(D) Debited to new partners in new profit-sharing ratios
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The correct answer is C Debited to old partners in old profitsharing ratios When a revaluation of as...View the full answer
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Related Book For 
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
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