Question 27 Following in the Balance Sheet of A and B who share profits in the ratio of 3.2. Not yet answered Balance Sheet of A and B as on April 1, 2020 Marked out of 3.00 Liabilities Amount (OMR) Assets Amount (OMR) Flag question Sundry creditors 20,000 Cash in hand 13,000 Capitals 70,000 Debtors 22,000 A 50,000 B 20,000 Stock 15,000 Furniture 20,000 Plant & Machinery 20,000 90,000 90,000 a. The value of plant and machinery is appreciated by 20% A provision for doubtful debts is to be created on sundry debtors at 15%. b. 1.Pass the journal entry to record the appreciation of plant and machinery in Revaluation account D IPE 1 a. The value of plant and machinery is appreciated by 20% A provision for doubtful debts is to be created on sundry debtors at 15%. b. 1.Pass the journal entry to record the appreciation of plant and machinery in Revaluation account. Dr Revaluation a/c OMR 4,000 Cr Plant and Machinery a/c OMR 4,000 Dr Realization a/c OMR 4,000 Cr Plant and Machinery a/c OMR 4,000 Dr Plant and Machinery a/c OMR4,000 Cr Revaluation a/c OMR 4,000 Dr Plant and Machinery a/c OMR 4,000 Cr Realization a/c OMR 4,000 2. Pass the journal entry to record the provision for doubtful debts in Revaluation account 3.The balance of revaluation account will be 90,000 90,000 a. The value of plant and machinery is appreciated by 20% A provision for doubtful debts is to be created on sundry debtors at 15%, b. 1.Pass the journal entry to record the appreciation of plant and machinery in Revaluation account. 2. Pass the journal entry to record the provision for doubtful debts in Revaluation account. Dr Realization a/c OMR 3300 Cr Provision for doubtful debts a/c OMR 3,300 Dr Revaluation a/c OMR 3,300 Cr Provision for doubtful debts a/c OMR 3,300 Dr Provision for doubtful debts a/c OMR 3,300 Cr Realization a/c OMR3,300 Dr Provision for doubtful debts a/c OMR 3,00 Cr Revaluation a/C OMR 3,300 3.The balance of revaluation account will be EPIC o HD C b. A provision for doubtful debts is to be created on sundry debtors at 15%. 1.Pass the journal entry to record the appreciation of plant and machinery in Revaluation account. 2. Pass the journal entry to record the provision for doubtful debts in Revaluation account. 3.The balance of revaluation account will be A credit balance of OMR 4,000 None of the choices A debit balance of OMR 700 A credit balance of OMR 700 EPIE A 0 O