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Question :

Value of Land & Building is to be increased to Rs.5,00,000 (Book Value Rs.4,00,000),  land and building account will be …

Option 1: Debited by Rs 1,00,000

Option 2: Credited by Rs 1,00,000

Option 3: Debited by Rs 5,00,000

Option 4: Credited with Rs 5,00,000


Team Careers360 15th Jan, 2024
Answer (1)
Team Careers360 22nd Jan, 2024

Correct Answer: Debited by Rs 1,00,000


Solution :

Answer = Debited by Rs 1,00,000

land and building is increased  by Rs 1,00,000

Land and Building A/c Dr 1,00,000

To Revaluation 1,00,000
Hence, the correct option is 1.

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