A partnership on admitting a new member, revalued the business' land and building from N30,000 to N70,00. The difference of N40,000 should be
a
credited to land and building account
b
debited to asset revaluation account
c
credited to asset revaluation account
d
credited to profit and loss appropriation account
Explanation
Correct Option
bNo explanation available
Video Explanation
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