Which of the following are shown is Revaluation A/c ?

A. Unrecorded Asset

B. Workmen Compensation Reserve

C. Decrease in fixed Asset

D. Increase in Inventory

E. Drawings of partner

Choose the correct answer from the options given below :

A, C and D only

The correct answer is option  3- A, C and D only.

A. Unrecorded Asset- It is shown in revaluation account. Unrecorded asset is debited and revaluation account is credited.

B. Workmen Compensation Reserve- It is not shown in revaluation account. It is directly distributed between partners in their profit sharing ratio if there is no liability against it.

C. Decrease in fixed Asset- It is shown in revaluation account. Decrease in asset is credited and revaluation account is debited.

D. Increase in Inventory- It is shown in revaluation account. Increase in asset is debited and revaluation account is credited.

E. Drawings of partner- It is not shown in revaluation account. It is shown in the capital account of partners.