Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / nazi
There can be many situations but the main entries w.r.t. revaluation can be summed up as below:
Case 1:In case of increase in value of asset-
Particular Assets A/c Dr.
To Revaluation Reserve A/c
(being increase in value of asset)
Revaluation Reserve A/c Dr.
To Old Partners' Capital A/cs.
(being Revaluation reserve transferred
to Old Partners Capital Accounts)
Case 2: In case of decrease in value of asset-
Revaluation Reserve A/c Dr.
To Particular Assets A/c
(being decrease in value of asset)
Old Partners' Capital A/cs Dr.
To Revaluation Reserve A/c
(being loss on revaluation transferred
to old partners capital accounts)
| Is This Answer Correct ? | 6 Yes | 2 No |
Post New Answer View All Answers
fiscal year variant Vs posting period variant
How to enter PO in SAP
Debit Note & Credit Note?
Why we reconcile our debtors? what steps we taken during reconciliation.
How to caluculate the value of Corporate Profit, the value of personal savings and the value of indirect tax?
Total numbers of companies listed on stock Exchange?
You configured new assets accounting for your company code with three depreciation areas that post in real time. When posting an external acquisition. How many documents are created?( any 1 answer) 2 3 4 6
What are write off entries to be passed say if im having payable of Rs. 400 standing in the balance sheet and I want to write it off...
purchase car from toyota innova 50000 cheque from one firm and 449893 from other firm.... and 1350000 loan saction from kotak mahindra.....how can entry make with interest
what about case study
What is money measurement concept
Let me know the difference between cash flow and free cash flow
types of inventory
what is cost accountinp
Why does one need a broker?
