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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।

AccountancyAt the time of a new partner’s admission, the old partners discovered that a loan of ₹50,000 recorded in the books was actually a partner’s personal loan. What effect will removing this liability from the firm’s books have on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyOn admission, bad debts of ₹7,000 are written off and the old provision for doubtful debts is also ₹7,000. If no new provision is required, what will be the effect on Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyAt the time of admission of a new partner, the Cash Book shows a cash balance of ₹30,000, whereas the physical count reveals ₹28,450. What effect will this shortage have on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyThe total of the credit side of the Revaluation Account is ₹2,10,500, while the total of the debit side is ₹1,98,750. What will be the result of this account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyThe book value of an office building decreases from ₹6,00,000 to ₹5,40,000. An unrecorded property tax liability of ₹18,000 relating to the same building is discovered. What will be the total revaluation loss recorded in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyDebtors amount to ₹1,50,000, and the existing provision for doubtful debts is ₹5,000. On the admission of a partner, a provision of 8% on debtors is required. What additional loss should be recorded in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyWhich statement about Revaluation Account is correct?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 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 book value of a building is ₹6,40,000, and its value is to be increased by 7.5%. What amount will be credited to the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe book value of office furniture is ₹72,000, and its value is to be reduced by 20%. What amount will be recorded in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyOld prepaid rent is recorded as an asset at ₹24,000 in the books, but its recoverable value is only ₹15,000. What effect will this have on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIf the total debit of the Revaluation Account is ₹1,36,000 and the total credit is ₹1,19,500, what will be the result of revaluation?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe provision for doubtful debts is reduced from ₹14,000 to ₹9,500. On which side of the Revaluation Account, and for what amount, will it be recorded?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyOn admission old partners decide that out of deferred advertisement expenditure of ₹45,000 only ₹15,000 is useful for future. How much will be debited to Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyAt the time of admission of a partner, the market value of stock is ₹88,000 and its book value is ₹94,000. In addition, an insurance claim of ₹3,000 on the stock has been admitted. What will be the net effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyAt the time of admission of a partner, an old asset is recorded in the books at ₹50,000. Its revalued amount is ₹62,000, and a separate provision of ₹7,000 is to be created for its repairs. What will be the net effect on the Revaluation Account?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