Question
Accountancy Question on Capital Account
At the time of retirement of a Partner, gain on revaluation will be credited to :
A
Capital A/c od retiring partner
B
Capital A/c of all partners in their old Profit Sharing ratio
C
Capital accounts of remaining partners in their old Profit sharing ratio
D
Capital A/c of the remaining Partners in their new Profit Sharing ratio
Answer
Capital A/c of all partners in their old Profit Sharing ratio
Explanation
Solution
The correct option is (B) :Capital A/c of all partners in their old Profit Sharing ratio.