60 Views

Question : Stock is overvalued by 10% (Book Value of Stock Rs.66,000), revaluation account will be ……

Option 1: Debited Rs 5,400

Option 2: Credited Rs6,000

Option 3: Debited Rs 6,000

Option 4: Credited with Rs 5,400


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 22nd Jan, 2024

Correct Answer: Debited Rs 6,000


Solution : Answer = Debited Rs 6000

Debited Rs 6000($\frac{66,000}{110}\times10$)

Revaluation a/c Dr 6000

To stock 6000
Hence, the correct option is 3.

Related Questions

UPES Integrated LLB Admission...
Apply
Ranked #28 amongst Institutions in India by NIRF | Ranked #1 in India for Academic Reputation by QS University Rankings | 16.6 LPA Highest CTC
SLAT 2025 - The Symbiosis Law...
Apply
Conducted by Symbiosis International (Deemed University) | Ranked #5 in Law by NIRF | Ranked #2 among best Pvt Universities by QS World Rankings
Jindal Global Law School Admi...
Apply
Ranked #1 Law School in India & South Asia by QS- World University Rankings | Merit cum means scholarships
Symbiosis Law School Pune Adm...
Apply
NAAC A++ Accredited | Ranked #5 by NIRF
Nirma University Law Admissio...
Apply
Grade 'A+' accredited by NAAC
Great Lakes PGPM & PGDM 2025
Apply
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Application Deadline: 1st Dec 2024
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books