Why revaluation on admission of partner

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MeraSkill.com Online preparation for CA CPT,CS & CMA Foundation exam Why do we revalue asset on admission of new Partner?

Transcript of Why revaluation on admission of partner

Page 1: Why revaluation on admission of partner

MeraSkill.com Online preparation for CA CPT,CS & CMA Foundation exam

Why do we

revalue asset on

admission of

new Partner?

Page 2: Why revaluation on admission of partner

New Partner should not get past profit

New partner should not get past earned profit.

New partner joins for future profit.

All profit till date has to accrue to existing partners.

Hence all assets and liabilities are revalued to current value.

All loss or profit are transferred to existing partners capital a/c.

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Page 3: Why revaluation on admission of partner

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Gursale Sir Admission of partner ppt XII BK Chapter 3

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