how to prepare revaluation account
Answers
Answered by
3
in case of increase in the value of asset credit revaluation account
in case of decrease in the value of asset debit revaluation account
increase liability debit revaluation
decrease liability credit revaluation
balance in revaluation is to be transfered to capital reserve
in case of decrease in the value of asset debit revaluation account
increase liability debit revaluation
decrease liability credit revaluation
balance in revaluation is to be transfered to capital reserve
Similar questions