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Class 12 · Accountancy
→Debtors are ₹50000 and provision for doubtful debts must be increased from ₹3000 to ₹5000. What happens in Revaluation Account?
Class 12 · Accountancy
→If an unrecorded liability ₹22000 is brought into books what is the journal entry?
Class 12 · Accountancy
→An unrecorded land worth ₹100000 is found in old books at admission. What will be its treatment?
Class 12 · Accountancy
→Unrecorded repair liability ₹7500 is found. What is the correct effect in Revaluation Account?
Class 12 · Accountancy
→The firm recognises unrecorded investment income receivable ₹9000. What will be recorded in Revaluation Account?
Class 12 · Accountancy
→Revaluation loss is ₹33,000. Old partners A, B and C share in old ratio 4:3:2. What will be the effect on A’s capital account?
Class 12 · Accountancy
→A new partner is admitted. Revaluation profit is ₹48000 and old partners old ratio is 5:3. How will the profit be shared?
Class 12 · Accountancy
→Old bills payable are reduced from ₹36000 to ₹30000. What is its effect in Revaluation Account?
Class 12 · Accountancy
→A liability is increased from ₹45,000 to ₹52,000. What is the correct treatment in Revaluation Account?
Class 12 · Accountancy
→A machine value is reduced from ₹80000 to ₹68000. Which entry is correct in Revaluation Account?
Class 12 · Accountancy
→A fixed asset has book value ₹120000. Before admission its value is taken as ₹150000. What will be the effect in Revaluation Account?
Class 12 · Accountancy
→Old partners share profits in 6:4. Revaluation loss is ₹70000. Why must it be adjusted in capital accounts before admitting the new partner?
Class 12 · Accountancy
→A firm distributed revaluation profit ₹54000 in new ratio 2:2:1. The old ratio was 2:1. What is the correct correction?
Class 12 · Accountancy
→If an increase in asset value is recorded at admission but the old value is still shown in the final balance sheet, what is the main error?
Class 12 · Accountancy
→Old partners A and B share profits in 3:2. Revaluation gives a profit of ₹40000. New partner C brings capital for his share. What total amount will be credited to A and B capital accounts?
Class 12 · Accountancy
→A and B share old profits in 5:4. Revaluation profit is ₹81000. Later C gets 1/5 share. What is C's share in revaluation profit?
Class 12 · Accountancy
→If revaluation expense ₹5000 is privately paid by an old partner and the firm treats it as payable to him, what is the correct effect?
Class 12 · Accountancy
→Revaluation expense of ₹7500 is paid in cash on admission. What will be its effect in Revaluation Account?
Class 12 · Accountancy
→Which item does not appear on the credit side of Revaluation Account?
Class 12 · Accountancy
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