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Class 12 · Accountancy
→At the time of admission of a new partner, on which side of the Revaluation Account is a decrease in the value of debtors recorded?
Class 12 · Accountancy
→If debtors are increased in value then what happens in Revaluation Account?
Class 12 · Accountancy
→Why are liabilities revalued at the time of admission?
Class 12 · Accountancy
→What is the purpose of revaluing assets on admission of a partner?
Class 12 · Accountancy
→If revaluation account shows no profit or loss what will be the effect on old partners' capital?
Class 12 · Accountancy
→The final entry for closing revaluation account relates to what?
Class 12 · Accountancy
→Computer value changed from ₹80000 to ₹70000 and patent value changed from ₹40000 to ₹52000. What will be the net result?
Class 12 · Accountancy
→Old partners A and B share profits and losses in the ratio of 5:4. If a revaluation loss of ₹36,000 arises, what amount will be debited to A’s Capital Account?
Class 12 · Accountancy
→If old partners A and B share profits and losses in the ratio of 3:1 and a revaluation profit of ₹28,000 arises, what amount will be credited to B’s Capital Account?
Class 12 · Accountancy
→Why is goodwill premium on admission not put into revaluation account?
Class 12 · Accountancy
→Which item should not be recorded in revaluation account?
Class 12 · Accountancy
→If value of a liability is increased at revaluation at what value will it appear in the new balance sheet?
Class 12 · Accountancy
→If an asset value has been reduced at revaluation at what value will it appear in the new balance sheet?
Class 12 · Accountancy
→If land value increases and land is to be shown at new value in balance sheet which account will change?
Class 12 · Accountancy
→What is the main objective of asset revaluation on admission?
Class 12 · Accountancy
→If an unrecorded asset later sells for ₹10000 cash and it was recorded at ₹10000 what additional revaluation profit will arise?
Class 12 · Accountancy
→What is the final effect of an unrecorded liability paid in cash through revaluation process?
Class 12 · Accountancy
→If decrease in liability is wrongly debited what will be the effect on revaluation result?
Class 12 · Accountancy
→If the full new value of an asset is recorded in revaluation account what is the mistake?
Class 12 · Accountancy
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