**On Admission of a New Partner, Increase in Assets is Debited to which Account?**

When a new partner is admitted into a partnership, there is often a need to adjust the accounting records to reflect the changes in the partnership's assets, liabilities, and capital. In this situation, the increase in assets is typically debited to the **Revaluation Account**.

**Explanation:**

The admission of a new partner involves the infusion of additional capital or assets into the partnership. This results in an increase in the total assets of the partnership, which needs to be recorded in the accounting books. To properly account for this increase, the following steps are generally followed:

1. **Revaluation of Assets and Liabilities:** Before admitting a new partner, it is common practice to revalue the existing assets and liabilities of the partnership. This revaluation aims to adjust the values of assets and liabilities to their current market or fair values. The resulting increase or decrease in the value of assets and liabilities is then recorded in the Revaluation Account.

2. **Admission of New Partner:** Once the revaluation is complete, the new partner is admitted into the partnership by investing their capital or assets. The value of the new partner's capital contribution is determined based on the terms agreed upon by the partners. This capital contribution is credited to the new partner's Capital Account.

3. **Treatment of Revaluation Account:** The Revaluation Account, which was initially debited or credited to reflect the changes in the values of assets and liabilities, is now adjusted. The increase in assets resulting from the admission of the new partner is debited to the Revaluation Account. This ensures that the increase in assets is properly accounted for and reflects the true financial position of the partnership.

4. **Distribution of Revaluation Account:** After the adjustment is made, the balance in the Revaluation Account is distributed among the existing partners' Capital Accounts in their profit-sharing ratio. This distribution ensures that the impact of the revaluation is properly allocated among the partners.

By debiting the increase in assets to the Revaluation Account, the partnership's accounting records accurately reflect the changes in the partnership's financial position. This adjustment is important to ensure transparency and fairness among the partners and to maintain accurate financial reporting.