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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 old balance sheet shows machinery at ₹5,00,000 and a provision for depreciation of ₹80,000. On admission, the new net value of machinery is ₹3,90,000. What is the revaluation loss?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyA firm directly credited asset increase of ₹48000 to old partners capital accounts without opening Revaluation Account. If real method is followed what was the correct process?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyIf debtors decrease by ₹5000 and creditors decrease by ₹5000 at the same time. What will be the revaluation result?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyOn admission it is certain that the firm will receive ₹42000 from a lawsuit. It was not recorded in books. What is the correct treatment?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyOutstanding commission of ₹7500 already exists in books. On admission actual liability is found to be ₹10200. What will be the additional effect?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyOn admission old prepaid insurance of ₹18000 is considered useful only to the extent of ₹12000. What amount will go to Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyThe old firm shows patent at ₹60000. On admission half of the patent value is considered expired. What will happen in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyBuilding increases by ₹90,000, stock decreases by ₹24,000, outstanding rent of ₹11,000 is found, and creditors decrease by ₹15,000. What is the revaluation result?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyIf an unrecorded liability later turns out to be wrong and actually no liability exists. What is the correct correction of the initial revaluation entry?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyInvestments are ₹160000 and Investment Fluctuation Fund is ₹25000. New value of investments is ₹142000. After fund adjustment which result is correct?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyOld partners A and B share in 3:1. After admission of C the new ratio is 2:1:1. The second part loss of Memorandum Revaluation is ₹40000. In which ratio will it be shared?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyIn the second part of Memorandum Revaluation Account the first part profit is reversed. If the first part shows profit of ₹36000 then what will the second part show?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyWhen is Memorandum Revaluation Account needed?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyIf revaluation expense is privately paid by the new partner but it is an expense of the pre-admission firm. Generally in whose profit or loss will it be considered?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyOn admission of a partner, land value increases from ₹4,00,000 to ₹5,10,000, and the firm pays brokerage of ₹9,000. What is the net revaluation profit?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyThe book value of a firm’s office equipment is ₹98,000. During revaluation, its value is reduced by 15%, and an unrecorded office equipment worth ₹5,000 is also discovered. What will be the net result in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyOld balance sheet shows claim provision of ₹30000. On admission the claim is settled at only ₹22000. What will be the effect in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyIn which situation will an entry be made on the credit side of Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyIf the debit side of Revaluation Account is ₹137500 and the credit side is ₹152000. How will the account be closed?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyOn the admission of a partner, the book value of machinery is reduced from ₹2,40,000 to ₹2,10,000, and an unrecorded liability of ₹14,000 relating to machinery repairs is recorded. What will be the total debit to the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard