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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 partners want to retain the old book values of assets and liabilities but still adjust the revaluation profit or loss, which account is suitable?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIn a normal revaluation, which value is shown for an asset in the revised balance sheet?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe provision for tax was ₹1,02,000, whereas the final tax liability was determined to be ₹94,300. What will be the effect in the Revaluation Account at the time of admission of a partner?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of reconstitution, the provision for tax was ₹84,000, whereas the actual tax liability was determined to be ₹91,500. What will be its effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAdvance tax of ₹48,000 appears as an asset, but ₹7,500 is no longer adjustable. What is the effect in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyGoods worth ₹36,000 in the old stock are found damaged, while the value of the remaining stock increases by ₹21,500. What will be the net effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of admission of a new partner, the book value of a car decreases from ₹2,40,000 to ₹2,08,000, while a bank loan decreases from ₹3,30,000 to ₹3,12,000. What will be the net effect in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of admission of a new partner, the accountant credited an increase in liability of ₹34,000 to the Revaluation Account. Why is this an accounting error?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAn accountant credited a decrease in an asset of ₹29,000 to the Revaluation Account. What should be the correct accounting treatment for this item?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyA, B and C are old partners sharing profits in the ratio 4:4:1. A revaluation loss of ₹99,000 is incurred. What will be C’s (the third partner’s) share of this loss?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyWhy are changes in the values of existing assets and liabilities at the time of admission kept separate from the incoming partner?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyWhich item will be credited to the credit side of Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationEasy AccountancyWhich of the following items will be recorded on the debit side of the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAn existing copyright was not recorded in the books. At the time of a partner’s admission, it is valued at ₹82,500. What journal entry should be passed?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe book value of land is ₹925000, and it is revalued upward by 8%. What amount will be credited to the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe book value of furniture is ₹1,35,000, and it is to be reduced by 12%. What amount will be debited to the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyPrepaid salary of ₹30,000 appears as an asset, but only ₹22,500 is beneficial. What happens in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyIf the debit side of Revaluation Account exceeds its credit side by ₹59,000, what does the balance represent?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyThe debit total of a Revaluation Account is ₹2,94,000 and its credit total is ₹3,08,500. What is the result?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAn unrecorded commission receivable of ₹15,200 is discovered at admission. What is its correct effect?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium