Question :
A debtor whose due of Rs.40,000 was written off as bad debts last year, paid Rs.30,000 in full settlement. The revaluation account will be

Option 1: Debited with Rs 30,000
Option 2: Credited with Rs 30,000
Option 3: Credited with Rs 40,000
Option 4: No journal entry is required

Question

Question :

A debtor whose due of Rs.40,000 was written off as bad debts last year, paid Rs.30,000 in full settlement. The revaluation account will be

Option 1: Debited with Rs 30,000

Option 2: Credited with Rs 30,000

Option 3: Credited with Rs 40,000

Option 4: No journal entry is required

Team Careers360 · Accepted Answer

Correct Answer: Credited with Rs 30,000

Solution : Answer = Credited with Rs 30,000

Bad-debt Recovered A/c Dr 30000

To Revaluation 30000
Hence, the correct option is 2.

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Question : A debtor whose due of Rs.40,000 was written off as bad debts last year, paid Rs.30,000 in full settlement. The revaluation account will be Option 1: Debited with Rs 30,000Option 2: Credited with Rs 30,000Option 3: Credited with Rs 40,000Option 4: No journal entry is required

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Question :
A debtor whose due of Rs.40,000 was written off as bad debts last year, paid Rs.30,000 in full settlement. The revaluation account will be

Option 1: Debited with Rs 30,000
Option 2: Credited with Rs 30,000
Option 3: Credited with Rs 40,000
Option 4: No journal entry is required

Question :
A computer purchased on 1st October 2016 for Rs.40,000 debited to Office Expenses Account is to be brought into account on 31st March 2018 charging depreciation @10% p.a. on written down value basis.

Question :
Stock is undervalued by 10% (Book Value of Stock Rs.54,000), Revaluation account will be