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Class 12 · Accountancy
→On admission tools are increased from ₹135000 to ₹158000. What is the correct effect in Revaluation Account?
Class 12 · Accountancy
→A and B are old partners sharing profits in the ratio of 9:6. During revaluation, assets increased by ₹45,500 and liabilities increased by ₹15,500. What will be B’s share of the net revaluation profit?
Class 12 · Accountancy
→An old royalty liability of ₹26,000 had been omitted from the books by mistake. It is now recognised at the time of reconstitution. What will be its effect on the Revaluation Account?
Class 12 · Accountancy
→Old liability decreases from ₹84000 to ₹78000 and asset decreases from ₹58000 to ₹52000. What is the net result?
Class 12 · Accountancy
→In a firm, the value of assets increases from ₹90,000 to ₹1,02,000, while the value of liabilities increases from ₹45,000 to ₹51,000. What will be the net effect on the Revaluation Account?
Class 12 · Accountancy
→Debtors are ₹124000. Old provision ₹7000 is to be changed to 6 percent of debtors. What is the effect in Revaluation Account?
Class 12 · Accountancy
→Which statement about Revaluation Account is correct?
Class 12 · Accountancy
→If after revaluation the new value of an asset is higher than old balance sheet value which value will appear in final balance sheet?
Class 12 · Accountancy
→If the firm follows fluctuating capital method where is revaluation loss generally debited?
Class 12 · Accountancy
→If Revaluation Account has profit and the firm follows fixed capital method where may the profit be transferred?
Class 12 · Accountancy
→An old bill payable amounted to ₹75,000. The creditor accepted ₹67,500 in full and final settlement. What effect will this have on the Revaluation Account at the time of reconstitution?
Class 12 · Accountancy
→At the time of reconstitution, a vehicle was recorded in the firm’s books at ₹2,10,000. On revaluation, its value decreased to ₹1,92,000, and an unrecorded spare part worth ₹9,500 was found. What will be the net result in the Revaluation Account?
Class 12 · Accountancy
→The book value of old equipment is ₹125000. On revaluation, its value is reduced to ₹110000. In addition, repair work costing ₹6000 had already been carried out but was not recorded and is now payable. What will be the total debit to the Revaluation Account?
Class 12 · Accountancy
→Why does the new partner not share normal revaluation profit?
Class 12 · Accountancy
→Revaluation loss is ₹36000. Old ratio is 4:2:3 and new ratio is 3:3:2:1. In which ratio will the loss be transferred?
Class 12 · Accountancy
→Revaluation profit is ₹60000. Old partners share 7:5 but new ratio is 5:4:3. How much will old partner A receive?
Class 12 · Accountancy
→A and B share profits in the ratio 3:1. On C’s admission, the value of an old machine was increased by ₹40,000, but this increase was reversed through a memorandum revaluation account. If the new profit-sharing ratio is 2:1:1, what will be C’s share of the reverse loss?
Class 12 · Accountancy
→A firm increased building by ₹30000 but later in memorandum revaluation it must be reversed. What is the effect of the reverse entry?
Class 12 · Accountancy
→In Memorandum Revaluation Account the result of reverse entries may be shared among all partners including the new partner in which ratio?
Class 12 · Accountancy
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