CUET Accountancy 2022 30 Aug Shift 2 PYQs

Identify the incorrect journal entry related to Revaluation of Assets and Liabilities of a firm.

Plant and Machinery to be shown in Revaluation Account :

Anshu and Nitu are partners sharing profits in the ratio of 3:2. They admitted Jyoti as a new partner for 3/10 share which she acquired 2/10 from Anshu and 1/10 from Nitu. The new profit sharing ratio of Anshu, Nitu and Jyoti.