The balance of the revaluation account is transferred to the old partner’s capital accounts in their _____.
A. New profit-sharing ratio
B. Equal ratio
C. Old profit-sharing ratio
D. None of the above
Answer:C
The balance of the revaluation account is transferred to the old partner’s capital accounts in their _____.
A. New profit-sharing ratio B. Equal ratio C. Old profit-sharing ratio D. None of the above