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Class 12 · Accountancy
→Old provision for doubtful debts is ₹12000. New provision required on debtors of ₹200000 is 4 percent. What will happen in Revaluation Account?
Class 12 · Accountancy
→Debtors are ₹1,25,000. Bad debts of ₹9,000 are written off and a new provision of 6% is required on the balance. What will be the revaluation loss?
Class 12 · Accountancy
→On admission furniture is increased from ₹72000 to ₹86400. What is the correct effect on Furniture Account and Revaluation Account?
Class 12 · Accountancy
→At the time of admission the old firm's vehicle was recorded at ₹150000 and its revalued value is fixed at ₹132000. What will be the effect in Revaluation Account?
Class 12 · Accountancy
→After revaluation, the revised balance sheet must show debtors at ₹58,000. Old debtors were ₹65,000 and there was no separate provision. What is recorded in the Revaluation Account?
Class 12 · Accountancy
→If 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 12 · Accountancy
→If Revaluation Account has building increase ₹45000 and provision increase ₹12000 what amount will appear on credit side?
Class 12 · Accountancy
→A and B share 4:1. Revaluation profit is ₹20000 but new ratio will be 3:2:1. In which ratio will profit be distributed?
Class 12 · Accountancy
→An old vehicle has a book value of ₹90,000. It is decided to value it at ₹78,000, but it is not yet sold. What happens in revaluation at admission?
Class 12 · Accountancy
→If balance of Revaluation Account is transferred to old partners current accounts what capital method may it indicate?
Class 12 · Accountancy
→At the time of admission, the old partners’ profit-sharing ratio is 6:3:1. If a revaluation loss of ₹50,000 is incurred, what amount will be debited to the capital account of the second old partner?
Class 12 · Accountancy
→The accountant credited a liability increase of ₹11,000 to Revaluation Account. What is the correct correction?
Class 12 · Accountancy
→At 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 12 · Accountancy
→On 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 12 · Accountancy
→At the time of admission of a new partner, furniture valued at ₹64,000 is reduced by 15%. What amount will be debited to the Revaluation Account?
Class 12 · Accountancy
→If no asset or liability is revised at admission and no unrecorded item is found what will be the result of Revaluation Account?
Class 12 · Accountancy
→A and B share 3:2. Computer changes from ₹50000 to ₹42000 and patent changes from ₹20000 to ₹31000. What is B net share?
Class 12 · Accountancy
→The 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 12 · Accountancy
→The 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 12 · Accountancy
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