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Asset Revaluation

Class 12 Accountancy के इस tag से जुड़े questions। हर question के साथ chapter, topic, level और difficulty दी गई है।

AccountancyIf an asset is revalued before the dissolution of the firm and its revised value is recorded in the books, at which value will it be transferred to the Realisation Account?Class 12Dissolution of a Partnership FirmRealisation AccountExpert AccountancyA and B are old partners sharing profits in the ratio 8:5. During reconstitution, assets increase in value by ₹78,000 and liabilities increase by ₹26,000. What will be B’s share of the net profit arising from revaluation?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAn old royalty liability of ₹44,400 was omitted from the books. It is now recognised. What will be its effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyA liability decreases from ₹132,000 to ₹124,500, and an asset decreases from ₹97,000 to ₹89,500. What is the net revaluation result?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of admission of a partner, a firm's asset increases from ₹1,58,000 to ₹1,74,500, while its liability increases from ₹88,000 to ₹96,000. What will be the net effect in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyDebtors are ₹216,000. The old provision is ₹10,800 and the new provision required is 4% of debtors. What is the effect in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyWhich statement about the Revaluation Account is correct?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAfter revaluation, if a liability’s revised value is lower than its old value, which value is shown for that liability in the final balance sheet?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyUnder the fluctuating capital method, where is revaluation profit generally credited on the admission of a partner?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyUnder fixed capital method where is revaluation loss generally recorded?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAn old bill payable amounted to ₹96,000. The creditor accepted ₹88,800 in full and final settlement. What will be the effect at the time of revaluation of assets and liabilities?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe book value of a firm’s old vehicles decreases from ₹3,15,000 to ₹2,99,000. At the same time, an unrecorded toolkit worth ₹12,750 is discovered. What will be the net result of the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyDuring reconstitution, the book value of old equipment decreases from ₹395,000 to ₹358,000. In addition, an unrecorded installation-related liability of ₹11,500 is discovered. What will be the total debit in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyWhy does a new partner not bear a loss arising from a normal revaluation at the time of admission?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of admission of a new partner, the revaluation loss is ₹63,000. The old partners’ ratio is 2:5:2 and the new ratio after admission is 3:2:2:2. In what ratio will the revaluation loss be distributed among the old partners?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyRevaluation profit is ₹96,000. The old partners’ ratio is 13:11 and the new ratio is 5:4:3. What is partner A’s share?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyA and B share profits and losses in the ratio 5:3. On C’s admission, the value of patents was increased by ₹64,000, and this increase was reversed through memorandum revaluation. The new profit-sharing ratio is 4:3:1. What will be C’s share of the loss arising from the reversal?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIn a Memorandum Revaluation Account, machinery is first increased in value by ₹56,000 and then that adjustment is reversed. What effect does the reversal have?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIn a Memorandum Revaluation Account, in which ratio is the result of the reversal entries generally shared?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIn the first part of a Memorandum Revaluation Account, who receives the gain from an increase in an asset’s value?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert