Question

depreciation of assets is recorded on which side of revaluation account​

Answer 1

Answer:debit side

Explanation:

For ex- furniture 2000

Dep at 5%at furniture

In revaluation a/c side

To furniture a/c

Answer 2

Concept Introduction:

Depreciation is the decline in the value of the asset over a period of time.

Given Information:

Revaluation account

To Find:

On which side of the revaluation account depreciation is recorded.

Solution:

To document the rise or reduction in assets and liabilities, a Revaluation account is formed. Profit and loss adjustment account is another name for the revaluation account. It is a fictitious account. The revaluation account is credited with increases in asset value and decreases in liability value.

Since depreciation decreases the value of the asset, the revaluation account will be debited and the concerned asset account will be credited the amount of depreciation.