Accountancy, asked by tubaimran432, 8 months ago

Calculate revaluation profit and loss from the following: Buildings Book value Rs 550000 now valued at 125%,Provision for doubtful debts on debtors required @10%. Debtors Book Value Rs 80000 less P F B D Rs 3000.Machinery B V Rs 99000 found overvalued by 10%.Prepare Revaluation Account also.​

Answers

Answered by kashishhhh16
0

Answer:

1,23,500 is Revaluation profit.

Explanation:

  1. 5,50,000. 100

? 125

Ans is 6,87,500

2. 80,000

- 3,000

-5,000

72,000

3. 99,000 110

? 100

Ans is 90,000.

Revaluation Account:-

Bad debts A/c. 5,000. Building A/c. 1,37,500

Machinery A/c. 9,000.

Partner's capital

A/c(profit). 1,23,500

_______. ______

1,37,500. 1,37,500

_______. ______

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