Liabilities | Amount | Assets | Amount |
Stock | 10,000 | ||
Furniture | 20,000 |
1. | Stock is undervalued by 2000; Furniture increased to 21,000 | (A) | Revaluation Profit = 23,000 |
2. | Stock is revalued at 12,000; Furniture increased by 21000 | (B) | Revaluation loss = 6000 |
3. | Furniture brought down to 16,000; one computer of Rs. 5000 is unrecorded, now to be recorded | (C) | Revaluation Profit = 3000 |
4. | Furniture brought down by 16,000; A customer whose account was written off as bad Debt last year now recovered Rs. 10,000 from him | (D) | Revaluation Profit = 1000 |
A) 1-[B]; 2-[C]; 3-[D]; 4-[A]
B) 1-[B]; 2-[C]; 3-[A]; 4-[D]
C) 1-[C]; 2-[A]; 3-[D]; 4-[B]
D) 1-[C]; 2-[D]; 3-[A]; 4-[B]
Correct Answer: C
Solution :
1-[C]; 2-[A]; 3-[D]; 4-[B]You need to login to perform this action.
You will be redirected in
3 sec