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At the time of admission of a partner, what will be the effect of the following information?

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At the time of admission of a partner, what will be the effect of the following information?

Balance in Workmen compensation reserve ₹40,000. Claim for workmen compensation ₹45,000.

(A) ₹45,000 Debited to the Partner’s capital Accounts.

(B) ₹40,000 Debited to Revaluation Account.

(C) ₹5,000 Debited to Revaluation Account.

(D) ₹5,000 Credited to Revaluation Account.

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Correct option is (C) ₹5,000 Debited to Revaluation Account.

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