Question

In which side all debtors are good goes on revaluation account and with which amount?

Answer 1

All debtors are good means that there is no need for provision for doubtful debts. So you will write the Provision on the credit side of Revaluation a/c(decrease in liability).

You will find provision either in the asset side below debtors or in the liabilities side.

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Answer 2

Answer:

In which side all debtors are good goes on revaluation account and with which amount

All debtors are good means that there is no need for provision for doubtful debts. So you will write the Provision on the credit side of Revaluation a/c(decrease in liability)

Explanation:

The profit or loss is calculated by comparing the two sides of the revaluation account. The balance of the account is a profit when the total of the credit side exceeds the total of the debit side, and the balance is a loss when the total of the debit side exceeds the total of the credit side.

Assets that have been overvalued or undervalued are revalued.

Liabilities are recorded in the books with the appropriate values.

Unrecorded assets and liabilities of the company are added to its records.

The firm's actual position is calculated.

Up until the date of the admission of a new partner, profit and loss resulting from such revaluation may be adjusted.

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