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
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.
Question : Value of Land & Building is to be increased by Rs.5,00,000 (Book Value Rs.4,00,000), Revaluation will be
Stock is undervalued by 10% (Book Value of Stock Rs.54,000), Revaluation account will be
Question : Stock is overvalued by 10% (Book Value of Stock Rs.66,000), revaluation account will be ……
R Ltd. issued 10,000, 12% Debentures of Rs. 100 each at a discount of 5%. Discount on issue of debenture account will be ----------. Debenture account credited by --------
An increase in the value of assets at the time of retirement of a partner is
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile