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Revaluation Quiz

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Revaluation Quiz

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Accounting revaluation questions

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Pakistan

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Revaluation Quiz
 

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Revaluation QuizOnline version

Accounting revaluation questions

by poa
1

Q1 ? Gain on Revaluation Old carrying amount = 9000 New fair value = 11000 Revaluation gain =

2

Q2 ? Loss on Revaluation Carrying amount = 15000 Fair value = 13000 Revaluation loss =

3

Q3 ? Revaluation Increase Carrying amount = 8000 Fair value = 10000 Increase =

4

Q4 ? Revaluation Decrease Carrying amount = 12000 Fair value = 9000 Decrease =

5

Q5 ? New Depreciation After Revaluation New fair value = 20000 Residual = 0 Remaining useful life = 5 years Depreciation =

6

Q6 ? Adjusted Depreciation ( Harder ) Fair value = 15000 Residual = 3000 Remaining life = 6 years Depreciation =

7

Q7 ? Revaluation Credit Fair value = 18000 Carrying amount = 15000 Revaluation surplus =

8

Q8 ? Revaluation Loss to PnL Carrying amount = 7000 Fair value = 5000 Loss =

9

Q9 ? Revaluation Return to Original Cost Original cost = 10000 Fair value = 8000 Carrying amount = 9000 Decrease =

10

Q10 ? New Depreciation After Increase Fair value = 25000 Residual = 5000 Remaining life = 10 years Depreciation =

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