Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

plz solve!!!! Pon the Bano Sheet of all who share profits in the too2 Balance sheet of A and B as on April 1, 2020

plz solve!!!! image text in transcribed
Pon the Bano Sheet of all who share profits in the too2 Balance sheet of A and B as on April 1, 2020 Liabilities Amount (OMR) Assets Amount (OMR) Sundry creditors 20,000 Cash in hand 13.000 Capitals 70,000 Debtors 22.000 50,000 B 20,000 Stock 15.000 Furniture 20,000 Plant & Machinery 20,000 90,000 90,000 The value of plant and machinery is appreciated by 10% A provision for doubtlul debts to be created on sundry debtors at 5% 1. Pass the journal entry to record the appreciation of plant and machinery in Revakuation account Dr Plant and Machinery a/c OMR 2.000 Cr Realisation a/c OMR 2,000 Dr Revaluation a/c OMR 2000 G Plant and Machinery a/c OMR2,000 Dr Plant and Machinery a/c OMR2,000 t Revaluation a/c OMR2,000 Dr Realization a/c OMR 2000 G Plant and Machinery a/c OMR2,000 2. Poss the une entry to record the prin for dette in Revation account De Provision for doubtfuldebts a OM 1,100 Realization a/OMR 1,100 De Realisation COM 1,100 Provision for dette WC OMR 1,100 De Revolution we OMR 1.100 G Provision for doubtfuldets COM 1,100 Dr Provision for doubtfuldebts a/c OMR1,100 Revaluation ac OMR 1,100 The balance of revaluation account will be A credit balance of OMR 1100 None of the choices A credit balance of OMR 900 A A debit balance of OMR 900

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions