[muhammadsalik]

on 1 july 2003..

[muhammadsalik]

when asset is revalued at year end,dep is charged on WDV previously to revalued amount.The revaluation surplus should be recorded after deducting dep charge for the year from WDV.The difference of WDV (After net-off with dep charge) and revaluation should be charged to revaluation reserve kindly guide the entry of below given E.g.
E.g
asset revalued on 30 June 2004 (year end)
Revalued amount 12000
there is no revaluation loss.
Dep Rate 10%
Asset cost 15000
Asset WDV 10935
Acc Dep 4065

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