What is asset revaluation reserve and how is it treated in
the books of accounts




Answers were Sorted based on User's Feedback



What is asset revaluation reserve and how is it treated in the books of accounts..

Answer / h.r. sreepada bhagi

In case a company revalues its fixed assets and the value
turns out to be higher than the book value and the assets
are stated at the increased value in the books of accounts,
the amount by which the assets value is stated higher than
the book value, is treated as assets revaluation reserve.

This Asset Revaluation Reserve will be shown on the
Liabilities side of 'Horizontal Balance Sheet' or under
Sources of Funds of 'Vertical Balance Sheet'.

The increase in the value of assets due to revaluation will
not have any effect on the P&L A/c. necessary depreciation
calculation & adjustment needs to be done to carry forward
the assets at the new value.

Is This Answer Correct ?    19 Yes 2 No

What is asset revaluation reserve and how is it treated in the books of accounts..

Answer / sandeep kumar sharma

yes

Is This Answer Correct ?    6 Yes 8 No

What is asset revaluation reserve and how is it treated in the books of accounts..

Answer / pushpender jangid

when intangible assets are increase in company then
company are deceded to revaluaed its assets and increase
or decrease in assets are treated revaluation reserve and
after company transfered to profit and loss account year
wise when company gain profit.

Is This Answer Correct ?    1 Yes 5 No




What is asset revaluation reserve and how is it treated in the books of accounts..

Answer / jyothi

any increase or decrease in the value of asset is treated as
asset revaluation if the asset value is increased it is
transferred to profit and loss account

Is This Answer Correct ?    5 Yes 10 No

Post New Answer



More Accounting General Interview Questions

in tally software payroll vouchers option is there for what purpose it is used ? please tell me friends.

0 Answers  


where we can deposit the TDS Monthly Collection Amount form the Employees?

1 Answers  


difference between outstanding and accrued exp.?

2 Answers   Genpect,


what is the rate of purchasing computer goods from Gujarat, with C form, and what is the rate to sale it in Diu (Union Territory).

1 Answers   ASD Lab,


What are all the MIS reports you prepare in your company for the management

2 Answers  






How can Calculate Deferred Tax of Any Firm Like Pvt. Ltd.

3 Answers  


please send me banking question on my email ID as I have been selected for state bank of india .my email ID is sawant.supriya51@gmail.com

0 Answers  


question paper pattern of factset

1 Answers   Capital IQ,


. Expenses a/c. Dr. To vendor a/c. Cr. What is an impact of this transaction on business

2 Answers   Genpact,


what is the difference between "reserve" and "fund"

1 Answers  


what is profit and loss(dr) in cash flow statement?

0 Answers  


What is the treatment of claim settled by insurance company but still receivable in profit and loss account

0 Answers  






Categories