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Revaluation Gain

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 new partner, the Investment Fluctuation Reserve is ₹54,000, and the market value of the investment exceeds its book value by ₹27,000. The old partners share profits in the ratio 2:1. What total amount will be credited to the first partner’s capital account from the reserve and the investment revaluation?Class 12Reconstitution - Admission of a PartnerReservesExpert AccountancyDebtors are ₹216,000. The old provision is ₹10,800 and the new provision required is 4% of debtors. What is the effect in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyAn old bill payable amounted to ₹96,000. The creditor accepted ₹88,800 in full and final settlement. What will be the effect at the time of revaluation of assets and liabilities?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyThe provision for tax was ₹1,02,000, whereas the final tax liability was determined to be ₹94,300. What will be the effect in the Revaluation Account at the time of admission of a partner?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyAn unrecorded commission receivable of ₹15,200 is discovered at admission. What is its correct effect?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium 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 AccountancyEquipment worth ₹46,800, not recorded in the old books, is discovered. What is its correct treatment at admission?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyIf on admission the value of a liability decreases from ₹98000 to ₹76000, what will happen in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyOn admission, the old firm's plant stood at ₹250,000. Its revalued value became ₹275,000 and installation expense of ₹4,000 was paid. What is the net gain?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyOn admission out of old creditors of ₹175000, ₹22000 were disputed and are no longer considered payable. What will happen in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyOn admission tools are increased from ₹135000 to ₹158000. What is the correct effect in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard 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 AccountancyAn unrecorded investment of ₹39,000 is brought into the books. Which entry is correct?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyOld creditors were ₹1,20,000 and after settlement the liability remains ₹1,08,000. What happens in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyLand value is increased from ₹4,80,000 to ₹5,25,000. What is the correct amount and side in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyOn admission, old partners reduce furniture from ₹80,000 to ₹68,000, and on the same date an unrecorded piece of furniture worth ₹9,500 is found. What is the total effect from furniture?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyAn unrecorded trademark is valued at ₹55,000 and an unrecorded tax liability of ₹18,000 is found. What is the net result?Class 12Reconstitution - Admission of a PartnerAsset RevaluationMedium AccountancyAn old liability of ₹40,000 is to be settled immediately at a 10 percent discount. What result appears in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyThe provision for doubtful debts is reduced from ₹8,000 to ₹5,500. What amount of gain will be recognized in the Revaluation Account at the time of reconstitution?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyInsurance claim of ₹15000 is admitted but not yet received. What is the correct treatment on admission?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard