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Class 12 · Accountancy
→At the time of admission of a new partner to whom is general reserve given?
Class 12 · Accountancy
→A and B are old partners sharing profits in the ratio 8:5. During reconstitution, assets increase in value by ₹78,000 and liabilities increase by ₹26,000. What will be B’s share of the net profit arising from revaluation?
Class 12 · Accountancy
→An 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 12 · Accountancy
→Old liability decreases from ₹132000 to ₹124500 and asset decreases from ₹97000 to ₹89500. What is the net result?
Class 12 · Accountancy
→At 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 12 · Accountancy
→Debtors are ₹216000. Old provision is ₹10800 and new provision should be 4 percent of debtors. What is the revaluation effect?
Class 12 · Accountancy
→Which statement is correct for Revaluation Account?
Class 12 · Accountancy
→After normal revaluation if the new value of a liability is lower than old value which value appears in final balance sheet?
Class 12 · Accountancy
→Under fluctuating capital method where is revaluation profit generally credited?
Class 12 · Accountancy
→Under fixed capital method where is revaluation loss generally recorded?
Class 12 · Accountancy
→An 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 12 · Accountancy
→The 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 12 · Accountancy
→During 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 12 · Accountancy
→Why does the new partner not bear normal revaluation loss?
Class 12 · Accountancy
→At the time of admission of a new partner, the revaluation loss is ₹63,000. The old partners’ ratio is 2:5:2 and the new ratio after admission is 3:2:2:2. In what ratio will the revaluation loss be distributed among the old partners?
Class 12 · Accountancy
→Revaluation profit is ₹96000. Old partners ratio is 13:11 and new ratio is 5:4:3. What is A share?
Class 12 · Accountancy
→A and B share profits and losses in the ratio 5:3. On C’s admission, the value of patents was increased by ₹64,000, and this increase was reversed through memorandum revaluation. The new profit-sharing ratio is 4:3:1. What will be C’s share of the loss arising from the reversal?
Class 12 · Accountancy
→In memorandum revaluation machinery is first increased by ₹56000 and then reversed. What type of effect will the reverse entry give?
Class 12 · Accountancy
→In Memorandum Revaluation Account the result of reverse entries is generally shared in which ratio?
Class 12 · Accountancy
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