Question

The market value of investment was 36000 and the book value was 60000 what was the entry in revaluation account

Answer 1

Answer:

revaluation a/c dr

to investment a/c 24,000

investment reduced its value so it's a loss to firm, it debited in revaluation a/c

Answer 2

Reval a/c dr 24000

to investment a/c 24000