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Class 12 · Accountancy · Easy
→If old partners' capital accounts are fixed then to which account is revaluation profit transferred?
Class 12 · Accountancy · Easy
→Kavita and Lata share profits in the old ratio of 4:1. A loss of ₹10,000 is incurred on revaluation. What will be Lata’s share of this loss?
Class 12 · Accountancy · Easy
→Ankit and Bhavesh share profits in the old ratio of 2:1. A profit of ₹9000 arises from revaluation. What will be Bhavesh’s share of this profit?
Class 12 · Accountancy · Easy
→Which of the following items will be debited to the Revaluation Account?
Class 12 · Accountancy · Easy
→Which item will be credited in Revaluation Account?
Class 12 · Accountancy · Easy
→If repair expense of ₹1200 is outstanding and was not recorded then how will it be recorded?
Class 12 · Accountancy · Easy
→If insurance claim of ₹2500 is treated as an unrecorded asset then what happens in Revaluation Account?
Class 12 · Accountancy · Easy
→Who will bear the loss arising from revaluation on admission of a partner?
Class 12 · Accountancy · Easy
→If existing provision for doubtful debts is reduced from ₹5000 to ₹3500 then what is the gain?
Class 12 · Accountancy · Easy
→If an additional provision for doubtful debts of ₹1500 is created on debtors then what is it?
Class 12 · Accountancy · Easy
→If the book value of a vehicle is ₹40,000 and its revalued value is ₹34,000, what is the loss?
Class 12 · Accountancy · Easy
→At the time of a partner’s admission, if the book value of land is ₹90,000 and its revalued value is ₹95,000, what will be the gain on revaluation?
Class 12 · Accountancy · Easy
→Which is the correct journal entry for decrease in value of an asset?
Class 12 · Accountancy · Easy
→Which is the correct journal entry for increase in value of an asset?
Class 12 · Accountancy · Easy
→If the debit side of Revaluation Account is ₹25000 and the credit side is ₹21000 then what is the result?
Class 12 · Accountancy · Easy
→If the credit side of the Revaluation Account is ₹18,000 and the debit side is ₹12,000, what is the result?
Class 12 · Accountancy · Easy
→Where is the final balance of Revaluation Account closed?
Class 12 · Accountancy · Easy
→Why does the new partner not get a share in revaluation profit before admission?
Class 12 · Accountancy · Easy
→When is Revaluation Account prepared on admission of a partner?
Class 12 · Accountancy · Easy
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