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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।

AccountancyWhich statement about Revaluation Account is correct?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIf after revaluation the new value of an asset is higher than old balance sheet value which value will appear in final balance sheet?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIf the firm follows fluctuating capital method where is revaluation loss generally debited?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIf Revaluation Account has profit and the firm follows fixed capital method where may the profit be transferred?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAn old bill payable amounted to ₹75,000. The creditor accepted ₹67,500 in full and final settlement. What effect will this have on the Revaluation Account at the time of reconstitution?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of reconstitution, a vehicle was recorded in the firm’s books at ₹2,10,000. On revaluation, its value decreased to ₹1,92,000, and an unrecorded spare part worth ₹9,500 was found. What will be the net result in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe book value of old equipment is ₹125000. On revaluation, its value is reduced to ₹110000. In addition, repair work costing ₹6000 had already been carried out but was not recorded and is now payable. What will be the total debit to the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyWhy does the new partner not share normal revaluation profit?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyRevaluation loss is ₹36000. Old ratio is 4:2:3 and new ratio is 3:3:2:1. In which ratio will the loss be transferred?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyA and B share profits in the ratio 3:1. On C’s admission, the value of an old machine was increased by ₹40,000, but this increase was reversed through a memorandum revaluation account. If the new profit-sharing ratio is 2:1:1, what will be C’s share of the reverse loss?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyA firm increased building by ₹30000 but later in memorandum revaluation it must be reversed. What is the effect of the reverse entry?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIn Memorandum Revaluation Account the result of reverse entries may be shared among all partners including the new partner in which ratio?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIf old partners decide that revaluation is only for internal adjustment and new values should not appear in books which idea may apply instead of normal Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIn which situation will the revised balance sheet show the new asset value and Revaluation Account show only the difference?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of admission of a partner, the old tax provision was ₹56,000, whereas the actual tax liability after revaluation was determined to be ₹49,000. What will be its effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe tax provision is ₹37,000, whereas the actual tax liability is determined to be ₹42,800. What effect will this adjustment have on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe old stock is valued at ₹1,50,000. A portion worth ₹28,000 has become worthless, while the value of the remaining stock has increased by ₹12,000. What will be the net effect of revaluation?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of admission of a partner, the book value of computers decreases from ₹88,000 to ₹68,000, while the value of a loan decreases from ₹1,50,000 to ₹1,42,000. What will be the net effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe accountant debited unrecorded asset ₹31000 to Revaluation Account. What is the error?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyA, B, and C are old partners sharing profits in the ratio 1:2:2. A revaluation loss of ₹75,000 was incurred. What amount will be debited to C’s Capital or Current Account for C’s share of the loss?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert