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July 3, 2022 at 6:29 pm
Why are we debiting £3850 in OCI but not in Revaluation reserve??
October 21, 2021 at 11:19 am
Please I don’t understand where the excess depreciation is from at 10:22
August 19, 2021 at 7:59 am
Please why do we have to use up $3,850 in the reserve?
October 19, 2021 at 1:36 pm
I think that´s because the revaluation reserve was 4,400; the excess depreciation was 550; thus the balance was 4,400-550=3,850 that needs to be used up / removed because of the revaluation decrease / impairment. Thus, we debit by 3,850 the revaluation reserve but the value of the impairment was 4250. Then 4250-3850=400 impairment that goes to PL.
July 5, 2021 at 3:09 pm
Would you kindly clarify why you’re saying that all of $3,850 in the revaluation reserve is going to be used?
And where are the entries for accumulated depreciation & depreciation?
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