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November 27, 2020 at 3:19 pm
Why did we not depreciate the asset before the revaluation? We revalued on 31st Dec and calculated the gain/impairment on the b/f amount as at 1st Jan. Wouldnt we have accumulated another yr depreciation by this point?
June 15, 2020 at 10:40 am
Sir my question is, how to treat if after revaluation of PPE, current year depreciation charge is less than the depreciation figure we charge without revaluation? Should we have to transfer that amount to retained earnings.
April 1, 2020 at 6:22 am
why 0.55 transferred to RE. it looks like dr. OCE 0.55 cr. RE 0.55
we have already credited PPE for 0.55?
March 28, 2020 at 2:52 pm
i think entry would be
Dr Revaluation gain in OCI 3850 Dr P n L 400 CR PPE 4250
July 13, 2019 at 10:09 pm
I have a question. When in the end in the SOCE we take out the 3.85 figure from the OCE, if we look at the entry we are actually Dr(debiting) the Revaluation Surplus with the amount 3.85, but what are we Crediting??
July 13, 2019 at 10:11 pm
May 8, 2019 at 9:15 pm
Have you got examples of exam standard revaluation questions as in the exam there will be less numbers and more theory.
May 7, 2019 at 8:45 pm
Hi Sir, I have some doubt regarding the depreciation of 0.55 million. Why is it a transfer from other components of equity to retained earnings in the statement of changes in equity?
October 6, 2018 at 6:04 am
In this question during the year 2014 there was revaluation surplus of 3850. So in the 2nd year if there is a loss(in this case 4250) u set it off against any surplus first and the remaining goes to P/L right? My question is 1) Why are we taking it as an impairment and not a revaluation loss or do they both mean the same( i dnt think they do)? 2) Why are debiting 3850 as a “revaluation loss” in OCI?
January 4, 2019 at 8:51 am
1) They are the same thing, so don’t worry about the terminology
2) The gain was previously taken to OCI and therefore the loss should be taken to the same place within the financial statements.
September 15, 2018 at 3:43 pm
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