Which of the following items will not be recorded in Revaluation A/c at the time of admission of new partner in the firm?
Answer & explanation
Correct answer: option 2
The correct answer is option 2- Capital brought in by New partner.
Capital brought in by New partner is recorded in the capital account of new partner not revaluation account.
Capital increase the bank balance and capital balance of the partner capital account. There is no effect of this transaction on the revaluation account.