Match List I with List II.

Choose the correct answer from the options given below :

A-II, B-III, C-IV, D-I

The correct answer is option (1) : A-II, B-III, C-IV, D-I

* Revaluation Profit- Revaluation A/c debit, Old Partners Capital A/c credit. Revaluation profit is shared between old partners in their old profit sharing ratio. Profit increases the capital balance of the old partners so their capital account is credited with profit. So, the correct journal entry is-
Revaluation A/c Dr.
    To Old Partners Capital A/c

* Bringing capital by new partner- Bank A/c debit, New Partner Capital A/c credit.
If the new partner contributes cash for capital, the entry involves crediting the new partner's capital account and debiting the appropriate cash or bank account as cash account is increased and capital account of partner also increased. So, correct journal entry is-
Cash/Bank Account Dr.
     To New partner's Capital account

* Dividing premium between sacrificing partners- Goodwill A/c debit, Sacrificing Partner Capital A/c credit.  When the new partner brings goodwill in the firm then it is distributed between sacrificing partners in their sacrificing ratio. Sacrificing partner account will be credited for their increase in capital balance. So, the correct journal entry is-
Goodwill A/c Dr.
    To Sacrificing Partner Capital A/c

* Bringing share of goodwill by New partner- Bank A/c debit, Premium for Goodwill A/c credit. If the new partner contributes cash for his share of goodwill , the entry involves crediting the premium for goodwill account and debiting the appropriate cash or bank account as cash account is increased. So, correct journal entry is-
Cash/Bank Account Dr.
     To Premium for goodwill A/c