Question

The foollowing revalution take place between A and B. Building decreased by RS 15000 ; furniture's incresed by RS 12000; machinery decreased by RS 5000 ; provision for doubtful debts by RS 2500. pas journal entries
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Answer 1

Explanation:

Revaluation A/c Dr 22500

To building A/c 15000

To machinery A/c 5000

To provision for 2500

doubtful debt

Furniture A/c Dr 12000

To Revaluation A/c 12000

A capital A/c Dr 5250

B capital A/c Dr 5250

To revaluation A/c 10500