In which of the following case revaluation account is debited at the time of admission of new partner in the firm?

A) For increase in the value of an asset
B) For appreciation in the amount of a liability
C) For an unrecorded asset
D) For transfer of gain on Revaluation
E) For reduction in the amount of a liability
F) For reduction in the value of an asset

Choose the correct answer from the options given below.

B, D & F

The correct answer is option 2- B, D & F.

A) For increase in the value of an asset- Revaluation A/c is credited.
Journal entry for this is-  Asset A/c To Revaluation A/c

B) For appreciation in the amount of a liability- Revaluation A/c is debited.
Journal entry for this is-  Revaluation A/c To Liability A/c

C) For an unrecorded asset- Revaluation A/c is credited.
Journal entry for this is-  Asset A/c To Revaluation A/c

D) For transfer of gain on Revaluation- Revaluation A/c is debited.
Journal entry for this is- Revaluation A/c To Old Partners Capital A/cs

E) For reduction in the amount of a liability- Revaluation A/c is credited.
Journal entry for this is-  Liability A/c To Revaluation A/c

F) For reduction in the value of an asset- Revaluation A/c is debited.
 Journal entry for this is- Revaluation A/c To Asset A/c