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Class 12 · Accountancy
→At the time of admission the old firm's vehicle was recorded at ₹150000 and its revalued value is fixed at ₹132000. What will be the effect in Revaluation Account?
Class 12 · Accountancy
→After revaluation revised balance sheet must show debtors ₹58000. Old debtors were ₹65000 and there was no separate provision. What happens in Revaluation Account?
Class 12 · Accountancy
→If Revaluation Account has stock decrease ₹14000 and loan decrease ₹9000 what amount will appear on debit side?
Class 12 · Accountancy
→If Revaluation Account has building increase ₹45000 and provision increase ₹12000 what amount will appear on credit side?
Class 12 · Accountancy
→A and B share 4:1. Revaluation profit is ₹20000 but new ratio will be 3:2:1. In which ratio will profit be distributed?
Class 12 · Accountancy
→An old vehicle has book value ₹90000. It is decided to value it at ₹78000 but it is not yet sold. What happens in revaluation at admission?
Class 12 · Accountancy
→If balance of Revaluation Account is transferred to old partners current accounts what capital method may it indicate?
Class 12 · Accountancy
→At the time of admission, the old partners’ profit-sharing ratio is 6:3:1. If a revaluation loss of ₹50,000 is incurred, what amount will be debited to the capital account of the second old partner?
Class 12 · Accountancy
→The accountant credited liability increase ₹11000 to Revaluation Account. What is the correct correction?
Class 12 · Accountancy
→At the time of admission of a new partner, the accountant debited an increase of ₹17,000 in the value of an asset to the Revaluation Account. Why is this entry incorrect?
Class 12 · Accountancy
→On the admission of a partner, the book value of land is ₹2,50,000. The value of land is increased by 12%. What amount will be credited to the Revaluation Account?
Class 12 · Accountancy
→At the time of admission of a new partner, furniture valued at ₹64,000 is reduced by 15%. What amount will be debited to the Revaluation Account?
Class 12 · Accountancy
→If no asset or liability is revised at admission and no unrecorded item is found what will be the result of Revaluation Account?
Class 12 · Accountancy
→A and B share 3:2. Computer changes from ₹50000 to ₹42000 and patent changes from ₹20000 to ₹31000. What is B net share?
Class 12 · Accountancy
→The firm discovers a possible liability of ₹30,000 relating to an old lawsuit, but considers it appropriate to create a provision of ₹18,000. What amount will be debited to the Revaluation Account?
Class 12 · Accountancy
→The Revaluation Account shows a profit of ₹42,000. The old partners share profits in the ratio 5:4:3. What amount of this profit will be credited to the capital account of the third old partner?
Class 12 · Accountancy
→Which item will be placed on the debit side of Revaluation Account?
Class 12 · Accountancy
→At the time of reconstitution, which of the following items is recorded on the credit side of the Revaluation Account?
Class 12 · Accountancy
→If debit balance of Profit and Loss Account ₹16000 is to be distributed among old partners before admission should it pass through Revaluation Account?
Class 12 · Accountancy
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