24 Views

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.

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
Jindal Global Law School Admi...
Apply
Ranked #1 Law School in India & South Asia by QS- World University Rankings | Merit cum means scholarships | Application Deadline: 30th Nov'24
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
ICFAI Business School-IBSAT 2024
Apply
9 IBS Campuses | Scholarships Worth Rs 10 CR
UPES B.Tech Admissions 2025
Apply
Ranked #42 among Engineering colleges in India by NIRF | Highest CTC 50 LPA , 100% Placements
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