What is the nature of ‘Revaluation Account’? Post category:Accountancy Reading time:1 mins read SOLUTION Revaluation Account is a nominal account in nature. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhen there is change in profit sharing ratio amongst existing partners, should the assets and liabilities be revalued? Next PostWhy are “Reserves & Surplus” distributed at the time of reconstitution of the firm? You Might Also Like From the following Balance Sheet of Akash Ltd. as at 31st March 2014: August 20, 2022 From the following information, calculate Working Capital Turnover Ratio: August 16, 2022 Star Ltd. took over the assets of Rs. 6,60,000 and liabilities of Rs. 80,000 of Moon Ltd. for Rs. 6,00,000. Give necessary Journal entries in the books of Star Ltd. assuming that:Case (a): The purchase consideration was payable 10% in cash and the balance in 5,400; 12% Debentures of Rs. 100 each.Case (b): The purchase consideration was payable 10% in cash and the balance in 4,500; 12% Debentures of Rs. 100 each issued at 20% premium. July 16, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Star Ltd. took over the assets of Rs. 6,60,000 and liabilities of Rs. 80,000 of Moon Ltd. for Rs. 6,00,000. Give necessary Journal entries in the books of Star Ltd. assuming that:Case (a): The purchase consideration was payable 10% in cash and the balance in 5,400; 12% Debentures of Rs. 100 each.Case (b): The purchase consideration was payable 10% in cash and the balance in 4,500; 12% Debentures of Rs. 100 each issued at 20% premium. July 16, 2022
