Question

which account is debited to record increase in value of a asset​

Answer 1

Answer:

ASSET AC

Explanation:

BCZ WHEN PRICE OF AN ASSET INCREASES, ITS VALUE IN THE MARKET INCREASES.

THUS , ASSET GOT UPWARD REVALUATED.

SO THE BALANCE OF ASSET ACCOUNT INCREASES...

I HOPE IT WILL HELP YOU...

Answer 2

Answer: Assets account

Explanation:

The asset account is debited to the revaluation account and credited to the revaluation account when the value of the asset increases.

• Assets are reported on the company's balance sheet.
• They are purchased or created in order to increase the value of the business or benefit from the operation of the business.
• An asset is something that can generate cash flow, reduce costs, or improve sales, whether it's manufacturing equipment or a patent.
• Assets can be classified as current, fixed, financial, or intangible.
• An asset account is a general ledger account used to sort and store debit and credit amounts from company transactions involving company resources.
• Asset account balances will be summarized and reported on the company's balance sheet.

Generally, asset account balances are debit balances and are increased by a debit entry and decreased by a credit entry.

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