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Class 12 · Accountancy
→Why does the new partner not receive a share of revaluation profit at the time of admission?
Class 12 · Accountancy
→A and B share profits in the old ratio of 4:1. The Revaluation Account shows a loss of ₹25,000. What will be the effect on A’s Capital Account?
Class 12 · Accountancy
→A and B share profits in the ratio of 3:2. On the admission of a new partner, the value of stock is reduced by ₹5,000 and the value of the building is increased by ₹25,000. What will be B’s share of the profit on revaluation?
Class 12 · Accountancy
→An asset with book value ₹24000 is now considered worthless. What amount will be debited to Revaluation Account?
Class 12 · Accountancy
→The book value of investments is ₹70,000. Their value is reduced by 10%, and an additional provision of ₹3,000 is created on debtors. What will be the total loss to be recorded in the Revaluation Account?
Class 12 · Accountancy
→Old workmen compensation provision was ₹50000. Actual claim is settled at ₹38000. What will be the effect in Revaluation Account?
Class 12 · Accountancy
→Employees compensation claim is estimated at ₹26000 but no provision existed in the books. What is its treatment on admission?
Class 12 · Accountancy
→Out of creditors of ₹75000, ₹10000 are no longer payable. What will happen in Revaluation Account?
Class 12 · Accountancy
→Land has a book value of ₹300000 and its value is increased by 12 percent. What is the correct amount in Revaluation Account?
Class 12 · Accountancy
→Furniture has a book value of ₹45000. Its value is reduced by 20 percent. How much will be debited to Revaluation Account?
Class 12 · Accountancy
→At admission the debit side of Revaluation Account is ₹116000 and the credit side is ₹89000. How will it be closed?
Class 12 · Accountancy
→At admission the credit side of Revaluation Account is ₹98000 and the debit side is ₹74000. What is the result?
Class 12 · Accountancy
→X and Y share old profits in 7:5. Revaluation loss is ₹36000. How much will be debited to Y's capital account?
Class 12 · Accountancy
→A and B share old profits in 5:3. Revaluation profit is ₹64000 and C is admitted. How much will be credited to A's capital account?
Class 12 · Accountancy
→An unrecorded bills payable of ₹12000 is found. What effect will it have in Revaluation Account on admission?
Class 12 · Accountancy
→An unrecorded investment of ₹18000 is discovered. What is the correct accounting treatment on admission?
Class 12 · Accountancy
→Stock is reduced from ₹60000 to ₹52500 and investments are increased from ₹40000 to ₹47000. What is the net effect in Revaluation Account?
Class 12 · Accountancy
→Old provision for doubtful debts was ₹7000. On admission the required provision is found to be ₹5000. What will happen in Revaluation Account?
Class 12 · Accountancy
→Just before admission a 5 percent provision for doubtful debts is created on debtors of ₹80000. How much will be debited to Revaluation Account?
Class 12 · Accountancy
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