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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।

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 AccountancyIf Revaluation Account has a decrease in stock of ₹14,000 and a decrease in loan of ₹9,000, what amount will appear on the debit side?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyAt the time of admission of a new partner, the accountant debited an increase of ₹17,000 in the value of an asset to the Revaluation Account. Why is this entry incorrect?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyOn the admission of a partner, the book value of land is ₹2,50,000. The value of land is increased by 12%. What amount will be credited to the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe firm discovers a possible liability of ₹30,000 relating to an old lawsuit, but considers it appropriate to create a provision of ₹18,000. What amount will be debited to the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe Revaluation Account shows a profit of ₹42,000. The old partners share profits in the ratio 5:4:3. What amount of this profit will be credited to the capital account of the third old partner?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of reconstitution, which of the following items is recorded on the credit side of the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAn old investment has a book value of ₹88,000. On revaluation, its value increases to ₹96,000, and an expense of ₹3,500 related to the investment becomes payable. What will be the net effect of revaluation?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyDuring reconstitution, the book value of office equipment decreases from ₹33,000 to ₹27,500, while outstanding expenses increase from ₹12,000 to ₹15,000. What will be the net effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyBefore the admission of a partner, investments were recorded in the books at ₹60,000. Their market value is ₹54,000, and accrued interest of ₹2,000 is receivable separately. What will be the net effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of admission of a partner, stock is increased from ₹72,000 to ₹81,000 and furniture is reduced from ₹40,000 to ₹34,000. What will be the net result of the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyA fixed asset has book value ₹120000. Before admission its value is taken as ₹150000. What will be the effect in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAt the time of admission of a partner, outstanding salary of ₹9,000 was not recorded in the books. Which account and side will be affected by this adjustment?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyAt admission the credit side of Revaluation Account is ₹98000 and the debit side is ₹74000. What is the result?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyAt the time of admission machinery value is increased from ₹90000 to ₹108000. What will be the effect in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyThe value of a patent increased from ₹90,000 to ₹1,02,000, while the value of a computer decreased from ₹76,000 to ₹68,000. What will be the net result of revaluation of the assets?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyA and B share profits and losses in the ratio of 5:7. The total credit of the Revaluation Account is ₹132000 and its total debit is ₹84000. What will be A’s share of the profit?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyAt the time of admission, prepaid advertisement worth ₹7,200 was found to be unrecorded in the books and is now being recorded. What will be its effect on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyDebtors amounting to ₹8,200 became bad debts. What will be the effect in the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyThe debit total of the Revaluation Account is ₹87,000 and the credit total is ₹59,000. What will be the result?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium