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Question : Credit side of revaluation account Rs 60,000 and debit side of revaluation account Rs 40,000 . Entry for the balance will be .

Option 1: A and B debited with Rs 12,000 and Rs 8,000 and credited revaluation account Rs 20,000

Option 2: Revaluation account Dr Rs 20,000 and crediting A's account Rs 12,000 and B's account Rs 8,000

Option 3: Revaluation account Dr 20,000 and crediting A, B and C with Rs 6,667 each

Option 4: None of the above


Team Careers360 23rd Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: Revaluation account Dr Rs 20,000 and crediting A's account Rs 12,000 and B's account Rs 8,000


Solution : Answer = Revaluation account Dr Rs 20,000 and crediting A's account Rs 12000 and B's account Rs 8000

Revaluation A/c Dr 20,000

To A's Capital A/c 12000

To B's Capital A/c 8000

(old ratio = 3:2)

Hence, the correct option is 2.

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