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Sir can you help me with this

This topic has 1 reply, 2 voices, and was last updated 4 years ago by P2-D2.

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September 21, 2021 at 1:08 pm #636131
dennissherpa101
Member
- Topics: 58
- Replies: 60
Hello sir, for the revaluation decrease example two.
Can we write
Dr revaluation reserve 4250
Dr accimulated depn 1750
Cr ppe 6000
Rather than dr oci 3850
Dr profit/loss 400
Cr 4250
September 21, 2021 at 7:46 pm #636170
P2-D2
Keymaster
- Topics: 4
- Replies: 7222
Hi,
The two journals presented are totally different and so I’d have to say no. The first one reduces the asset value by 6,000 whereas the second one recues it be 4,250. This would lead to a different carrying value of the asset following the fall in its value.
Thanks
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