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Revaluation Account

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

AccountancyWorkmen Compensation Reserve is ₹35,000 and the claim is ₹42,000. What is the excess claim?Class 12Reconstitution - Admission of a PartnerReservesEasy AccountancyThe Workmen Compensation Reserve is ₹45,000, while the workmen compensation claim is ₹60,000. What amount does the claim exceed the reserve by?Class 12Reconstitution - Admission of a PartnerReservesEasy AccountancyThe Contingency Reserve amounts to ₹25,000, whereas the actual liability is ₹31,000. What will be the additional loss in this situation?Class 12Reconstitution - Admission of a PartnerReservesMedium 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 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 AccountancyWhich statement about the Revaluation Account is correct?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 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 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 AccountancyWhich of the following items will be recorded on the debit side of the Revaluation Account?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 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 AccountancyThe provision for doubtful debts is reduced from ₹26,000 to ₹19,800. What will be its effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyOn admission of a partner, a building with a book value of ₹7,50,000 is revalued at ₹8,18,000. What is recorded in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert