Question

write journal assets -liabilities revaluation​

Answer 1

Answer:

revaluation a/c dr 23000

to machine A/c. 20000

to outstanding expense 3000

land a/cdr. 200000

creditor dr. 5000

income receivable dr. 2000

to revaluation A/c 207000

revaluation A/c dr 184000

to p&l 184000

gain