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Give the journal entry for increase in the value of asset on admission of the partner?
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Give the journal entry for increase in the value of asset on admission...
A Memorandum Profit and Loss Adjustment Account will be opened in the books. The increase in the value of assets or decrease in the value of liabilities will be credited to this account. The decrease in the value of assets or increase in the value of liabilities will be debited to this account.
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Give the journal entry for increase in the value of asset on admission of the partner?
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Give the journal entry for increase in the value of asset on admission of the partner? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Give the journal entry for increase in the value of asset on admission of the partner? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Give the journal entry for increase in the value of asset on admission of the partner?.
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