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Class 12 · Accountancy
→An old legal claim liability ₹45000 is estimated but not recorded in books. What will be its effect at admission?
Class 12 · Accountancy
→A and B are old partners sharing profits in the ratio of 5:4. A revaluation loss of ₹54,000 is incurred. By what amount will A’s Capital Account be debited?
Class 12 · Accountancy
→A, B and C are old partners sharing profits in the ratio 2:3:5. A revaluation profit of ₹80,000 is earned. How much of this profit will be credited to B’s capital account?
Class 12 · Accountancy
→At the time of admission of a partner, stock is revalued from ₹1,10,000 to ₹92,800 and patents are revalued from ₹55,000 to ₹70,000. What will be the net result of revaluation?
Class 12 · Accountancy
→The provision for doubtful debts is reduced from ₹14,000 to ₹9,500. On which side of the Revaluation Account, and for what amount, will it be recorded?
Class 12 · Accountancy
→Debtors are ₹96000. Bad debts ₹6000 are to be written off and 5 percent provision is to be made on the balance. What is the total revaluation loss?
Class 12 · Accountancy
→Unrecorded investment ₹39000 is brought into books. Which entry is correct?
Class 12 · Accountancy
→An unrecorded salary payable ₹18500 is found at admission. What is the correct treatment?
Class 12 · Accountancy
→Old creditors were ₹120000 and after settlement liability remains ₹108000. What happens in Revaluation Account?
Class 12 · Accountancy
→Land value is increased from ₹480000 to ₹525000. What is the correct amount and side in Revaluation Account?
Class 12 · Accountancy
→A machine has book value ₹270000 and is valued at ₹234000 on admission. What will be the effect in Revaluation Account?
Class 12 · Accountancy
→If after revaluation the final balance sheet shows the new value of a liability. Which method does this indicate?
Class 12 · Accountancy
→On admission old partners reduce furniture from ₹80000 to ₹68000 and on the same date an unrecorded furniture of ₹9500 is found. What is the total effect from furniture?
Class 12 · Accountancy
→On admission creditors recorded in books were ₹86000. On verification actual liability is only ₹79500. What will happen in Revaluation Account?
Class 12 · Accountancy
→If all gains in Revaluation Account are ₹88000 and all losses are ₹103000. To whom and how will the result be transferred?
Class 12 · Accountancy
→The old firm has cash of ₹50000. On admission physical cash count shows ₹48000. What is the treatment of shortage?
Class 12 · Accountancy
→A and B share old profits in 7:8. Revaluation profit ₹75000 was wrongly shared equally. How much was A given less or more?
Class 12 · Accountancy
→On admission old partners decide that out of deferred advertisement expenditure of ₹45000 only ₹15000 is useful for future. How much will be debited to Revaluation Account?
Class 12 · Accountancy
→If liabilities increase by ₹36000 and assets increase by ₹49000. What will be the revaluation result?
Class 12 · Accountancy
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