What is asset revaluation reserve and how is it treated in
the books of accounts
Answers were Sorted based on User's Feedback
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 |
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 |
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 |
goods purchases of Rs.1200 was recorded in the sales book and the Vendor's account was credited by Rs. 1200
What are the different branches of accounting?
how does calculated retain earnings?
Purchase order value Rs. 10000/- 0.7% is erection chareges (inclusive of the above price) central Excise applicable & Local sales tax applicable,The above price is inclusive of all taxes.
Tell me what does the investment of personal assets by the owner will do?
Bank account comes under Real or Personal ?
bills of exchange
Explain miscellaneous expenditures & profit and loss account debit balance
Explain how the following transactions would be recorded in a cash book with Cash and Bank columns? i) Deposit of cash into Bank ii) Withdrawal of money from Bank for office use iii) Deposit of cheques (received from others) into Bank iv) Dishonour of cheques deposited into Bank I need a detailed answer..thanks..
3 Answers ABC, Aroma, College School Exams Tests, IDA, Ignou,
a cc. has balance Rs. 8,40,000 at the credit of profit and loss a/c this balance is used for redemption of debentures what will be the entry
ACCOUNTING CONCEPTS AND CONVENTIONS
1.What is security premium? 2.Difference between debt security and securitization? 3.Operating leverage and financial leverage examples? 4.Revenue and provision ,,,,differences? 5.EOQ...and its defination purpose of its use...?