Question

The credit balance of the Revaluation Account shows .................. ?​

Answer 1

Answer:

The credit balance in the Revaluation Account represents the losses on revaluation of assets and liabilities. Such losses occur when the decrease in the value of assets and increase in the value of liabilities is more than the increase in the value of assets and decrease in the value of liabilities.

Explanation:

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Answer 2

Revaluation account is nominal in nature. As per the rules of nominal account, all expenses and losses are debited and all incomes and gains are credited.

These rules will therefore be applicable for the revaluation account. Accordingly, debit Balance of such nature is considered as loss on revaluation and credit Balance as profit on revaluation.