Question

loss on revaluation of investment is shown by bank in the shedul

Answer 1

Answer:

schedule of other income

Answer 2

Answer:

The total of other incomes on Schedule 14 is reduced by the loss on revaluation.

Explanation:

Revaluation reserves are added to the balance sheet to lower the asset's carrying value and expenses are debited to raise the overall revaluation expense if the asset's value decreases. Revaluation losses ought to be included in profit and loss. To the extent that there is a credit balance in the revaluation excess for that asset, the loss should be deducted from other comprehensive income and recorded there.

Losses from revaluations are recorded in the income statement. The only situation where this rule does not apply is when an asset has previously been revalued and there is a revaluation surplus.

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