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Class 12 · Accountancy
→An old liability of ₹40000 is to be settled immediately at 10 percent discount. What result appears in Revaluation Account?
Class 12 · Accountancy
→Debtors are ₹75000. Bad debts ₹5000 are to be written off and 4 percent provision is to be made on remaining debtors. What total debit goes to Revaluation Account?
Class 12 · Accountancy
→In which situation will Revaluation Account show a profit?
Class 12 · Accountancy
→A customer claim of ₹19000 is admitted as hidden liability. Which account and side will be affected?
Class 12 · Accountancy
→An old investment has a book value of ₹88,000. On revaluation, its value increases to ₹96,000, and an expense of ₹3,500 related to the investment becomes payable. What will be the net effect of revaluation?
Class 12 · Accountancy
→If new asset value is shown in the balance sheet after revaluation what happens to the old book amount?
Class 12 · Accountancy
→During reconstitution, the book value of office equipment decreases from ₹33,000 to ₹27,500, while outstanding expenses increase from ₹12,000 to ₹15,000. What will be the net effect on the Revaluation Account?
Class 12 · Accountancy
→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
→A and B are old partners in 2:1. Revaluation Account shows loss ₹27000. Why will new partner C not be included in this loss?
Class 12 · Accountancy
→At the time of a partner’s admission, the value of a building increases from ₹2,00,000 to ₹2,30,000, while a loan decreases from ₹90,000 to ₹85,000. What will be the combined effect of these two adjustments on the Revaluation Account?
Class 12 · Accountancy
→Obsolete stock is recorded at ₹18000. Its realisable value is ₹6500. What is the revaluation loss?
Class 12 · Accountancy
→Before the admission of a partner, investments were recorded in the books at ₹60,000. Their market value is ₹54,000, and accrued interest of ₹2,000 is receivable separately. What will be the net effect on the Revaluation Account?
Class 12 · Accountancy
→An insurance claim of ₹12500 on an asset was not recorded earlier but is now receivable. What is the correct treatment?
Class 12 · Accountancy
→Which item will generally not be recorded in Revaluation Account?
Class 12 · Accountancy
→What is the main purpose of Revaluation Account at the time of admission?
Class 12 · Accountancy
→A and B are old partners sharing profits in the ratio of 7:5. During revaluation, the value of the building increases by ₹24,000 and the value of debtors decreases by ₹9,000. What is A’s share of the net revaluation profit?
Class 12 · Accountancy
→If the debit side of Revaluation Account exceeds credit side by ₹18000 to whom and how is it transferred?
Class 12 · Accountancy
→If debit side of Revaluation Account is ₹62000 and credit side is ₹74000 what is the result?
Class 12 · Accountancy
→At the time of admission of a partner, stock is increased from ₹72,000 to ₹81,000 and furniture is reduced from ₹40,000 to ₹34,000. What will be the net result of the Revaluation Account?
Class 12 · Accountancy
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