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Class 12 · Accountancy
→Outstanding commission of ₹7500 already exists in books. On admission actual liability is found to be ₹10200. What will be the additional effect?
Class 12 · Accountancy
→On admission old prepaid insurance of ₹18000 is considered useful only to the extent of ₹12000. What amount will go to Revaluation Account?
Class 12 · Accountancy
→The old firm shows patent at ₹60000. On admission half of the patent value is considered expired. What will happen in Revaluation Account?
Class 12 · Accountancy
→Building increases by ₹90,000, stock decreases by ₹24,000, outstanding rent of ₹11,000 is found, and creditors decrease by ₹15,000. What is the revaluation result?
Class 12 · Accountancy
→If an unrecorded liability later turns out to be wrong and actually no liability exists. What is the correct correction of the initial revaluation entry?
Class 12 · Accountancy
→Investments are ₹160000 and Investment Fluctuation Fund is ₹25000. New value of investments is ₹142000. After fund adjustment which result is correct?
Class 12 · Accountancy
→Old partners A and B share in 3:1. After admission of C the new ratio is 2:1:1. The second part loss of Memorandum Revaluation is ₹40000. In which ratio will it be shared?
Class 12 · Accountancy
→In the second part of Memorandum Revaluation Account the first part profit is reversed. If the first part shows profit of ₹36000 then what will the second part show?
Class 12 · Accountancy
→When is Memorandum Revaluation Account needed?
Class 12 · Accountancy
→If revaluation expense is privately paid by the new partner but it is an expense of the pre-admission firm. Generally in whose profit or loss will it be considered?
Class 12 · Accountancy
→On admission of a partner, land value increases from ₹4,00,000 to ₹5,10,000, and the firm pays brokerage of ₹9,000. What is the net revaluation profit?
Class 12 · Accountancy
→The 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 12 · Accountancy
→Old balance sheet shows claim provision of ₹30000. On admission the claim is settled at only ₹22000. What will be the effect in Revaluation Account?
Class 12 · Accountancy
→In which situation will an entry be made on the credit side of Revaluation Account?
Class 12 · Accountancy
→If the debit side of Revaluation Account is ₹137500 and the credit side is ₹152000. How will the account be closed?
Class 12 · Accountancy
→On 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 12 · Accountancy
→An unrecorded trademark is valued at ₹55,000 and an unrecorded tax liability of ₹18,000 is found. What is the net result?
Class 12 · Accountancy
→A and B share profits in the old ratio of 11:4. A revaluation loss of ₹45,000 arises from the revaluation of assets. What will be the effect on A’s capital account?
Class 12 · Accountancy
→Before the admission of a new partner, three old partners share profits in the ratio 9:6:5. A profit of ₹1,00,000 arises from revaluation. What will be the second old partner’s share of this profit?
Class 12 · Accountancy
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