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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।

AccountancyThe firm discovers a possible liability of ₹30,000 relating to an old lawsuit, but considers it appropriate to create a provision of ₹18,000. What amount will be debited to the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe Revaluation Account shows a profit of ₹42,000. The old partners share profits in the ratio 5:4:3. What amount of this profit will be credited to the capital account of the third old partner?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyWhich item will be placed on the debit side of Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationEasy AccountancyAt the time of reconstitution, which of the following items is recorded on the credit side of the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIf debit balance of Profit and Loss Account ₹16000 is to be distributed among old partners before admission should it pass through Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAn old liability of ₹40,000 is to be settled immediately at a 10 percent discount. What result appears in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyDebtors are ₹75,000. Bad debts of ₹5,000 are to be written off and a 4 percent provision is to be made on remaining debtors. What total debit goes to Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyIn which situation will Revaluation Account show a profit?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyA customer claim of ₹19000 is admitted as hidden liability. Which account and side will be affected?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAn old investment has a book value of ₹88,000. On revaluation, its value increases to ₹96,000, and an expense of ₹3,500 related to the investment becomes payable. What will be the net effect of revaluation?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIf new asset value is shown in the balance sheet after revaluation what happens to the old book amount?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyDuring reconstitution, the book value of office equipment decreases from ₹33,000 to ₹27,500, while outstanding expenses increase from ₹12,000 to ₹15,000. What will be the net effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIn a partnership firm, A and B share profits in the old ratio of 3:2. The revaluation of assets results in a profit of ₹25,000. What amount will be credited to B’s Capital Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyA and B are old partners in 2:1. Revaluation Account shows loss ₹27000. Why will new partner C not be included in this loss?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of a partner’s admission, the value of a building increases from ₹2,00,000 to ₹2,30,000, while a loan decreases from ₹90,000 to ₹85,000. What will be the combined effect of these two adjustments on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyBefore the admission of a partner, investments were recorded in the books at ₹60,000. Their market value is ₹54,000, and accrued interest of ₹2,000 is receivable separately. What will be the net effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAn insurance claim of ₹12500 on an asset was not recorded earlier but is now receivable. What is the correct treatment?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyWhich item will generally not be recorded in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyWhat is the main purpose of Revaluation Account at the time of admission?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyA and B are old partners sharing profits in the ratio of 7:5. During revaluation, the value of the building increases by ₹24,000 and the value of debtors decreases by ₹9,000. What is A’s share of the net revaluation profit?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert