Question : Value of Land & Building is to be increased by Rs.5,00,000 (Book Value Rs.4,00,000), Revaluation will be

Option 1: Debited with Rs 1,00,000

Option 2: Credited with Rs 1,00,000

Option 3: Debited with Rs 5,00,000

Option 4: Credited with Rs 5,00,000

Question :

Stock is undervalued by 10% (Book Value of Stock Rs.54,000), Revaluation account will be 

Option 1: Debited with Rs 5400

Option 2: Credited with Rs 5,400

Option 3: Debited Rs 6,000

Option 4: Credited Rs 6,000

Question : Stock is overvalued by 10% (Book Value of Stock Rs.66,000), revaluation account will be ……

Option 1: Debited Rs 5,400

Option 2: Credited Rs6,000

Option 3: Debited Rs 6,000

Option 4: Credited with Rs 5,400

Question :

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 --------

Option 1: Debited by Rs 50,000, Debentures credited by 10,00,000

Option 2: Credited by Rs 50,000 debentures account credited by 10,00,000

Option 3: Debited by Rs 50,000 Debentures account credited by Rs 9,50,000

Option 4: None of the above 

Question :

An increase in the value of assets at the time of retirement of a partner is

Option 1: credited to Revaluation Account.

Option 2:

debited to Revaluation Account.

Option 3: debited to Profit and Loss Account.

Option 4:

debited to Profit and Loss Appropriation Account.