Question

(Revaluation Entries) Record the following in journal on the retirement of A, the firm
decided :
(a) To depreciate furniture on straight line basis @ 10% p.a. for two years on cost of
* 70.000
(b) To decrease the value of stock by 25%. The total cost is $15,000.
(c) To bring on record accrued interest @ 12% p.a. on debentures of X & Co. ; of 50,000
bought at 60,000.
(d) To appreciate the plant by 10,000.
(e) To create a liability for salary outstanding 5,000.​

Answer 1

Answer:

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