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Class 12 · Accountancy · Easy
→A and B share profits and losses in the ratio of 3:2. The Advertisement Suspense Account has a balance of ₹10,000. On writing off this amount in the old ratio at the time of admission of a partner, how much will be debited to A’s Capital Account?
Class 12 · Accountancy · Expert
→A and B are old partners sharing profits in the ratio 8:5. During reconstitution, assets increase in value by ₹78,000 and liabilities increase by ₹26,000. What will be B’s share of the net profit arising from revaluation?
Class 12 · Accountancy · Expert
→An old bill payable amounted to ₹96,000. The creditor accepted ₹88,800 in full and final settlement. What will be the effect at the time of revaluation of assets and liabilities?
Class 12 · Accountancy · Hard
→The old firm shows assets at old values in the final balance sheet even after giving revaluation effect. Which method does this match?
Class 12 · Accountancy · Medium
→If assets increase by ₹72,000 and liabilities increase by ₹46,000 on admission, what will be the result of revaluation?
Class 12 · Accountancy · Hard
→If on admission assets decrease by ₹41000 and liabilities decrease by ₹28000. What will be the revaluation result?
Class 12 · Accountancy · Expert
→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 · Expert
→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 · Expert
→Why does the new partner not share normal revaluation profit?
Class 12 · Accountancy · Medium
→If liabilities increase by ₹36,000 and assets increase by ₹49,000, what will be the revaluation result?
Class 12 · Accountancy · Hard
→At admission goodwill is not being treated separately and only assets are being revalued. Which of the following item will appear in Revaluation Account?
Class 12 · Accountancy · Hard
→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 · Expert
→In a partnership firm, A and B share profits in the old ratio of 3:2. The revaluation of assets results in a profit of ₹25,000. What amount will be credited to B’s Capital Account?
Class 12 · Accountancy · Hard
→Partners decide that Revaluation Account will not be opened and assets will remain at old values. Still through what can the effect of value changes be adjusted?
Class 12 · Accountancy · Hard
→At the time of admission of a partner, revaluation reveals an unrecorded patent worth ₹32,000 and an unrecorded lawsuit liability of ₹47,000. What will be the net result of revaluation?
Class 12 · Accountancy · Hard
→If there is only decrease in liabilities ₹22000 and decrease in assets ₹30000, what will be the revaluation result?
Class 12 · Accountancy · Medium
→If Revaluation Account shows only an increase in assets of ₹45,000 and an increase in liabilities of ₹18,000, what is the net result?
Class 12 · Accountancy · Medium
→The value of a patent increased from ₹90,000 to ₹1,02,000, while the value of a computer decreased from ₹76,000 to ₹68,000. What will be the net result of revaluation of the assets?
Class 12 · Accountancy · Easy
→Two old partners share profits in equal proportions. At the time of admission of a new partner, revaluation of assets results in a loss of ₹5,000. How much of this loss will be allocated to each old partner?
Class 12 · Accountancy · Easy
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