Question :
Stock is undervalued by 10% (Book Value of Stock Rs.54,000), Revaluation account will be
Option 1: Debited with Rs 5400
Option 2: Credited with Rs 5,400
Option 3: Debited Rs 6,000
Option 4: Credited Rs 6,000
Answer (1)
18th Jan, 2024
Correct Answer: Credited Rs 6,000
Solution : Answer = Credited Rs 6000
Credited with Rs 6000 ( $\frac{54000}{90}\times10$)
Stock A/c Dr 6000
To revaluation A/c 6000
Hence, the correct option is 4.
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