Advertisement expenses 4200 to be carried forward to the next accounting year and therefore it is to be adjusted through revaluation account...(advertisement expense is not mentioned in earlier balance sheet )
Please explain its treatment in revaluation accnt..partners capital account and balance sheet...and also the required journal entry..
Advt expense of RS 4200 is prepaid advt of next year, so u have to deduct it from current year expense,
Therefore advt expense will be credited in revaluation account and would be shown in asset side of balance sheet as prepaid advt
Therefore advt expense will be credited in revaluation account and would be shown in asset side of balance sheet as prepaid advt