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I was struggling with Elimination method under IAS 16 to account for revaluation. Specifically the acc dep reversal journal. Some question record the journal as follows
Dr. Acc Dep A/c
Cr. PPE A/cAnd others as follows:
Dr. Acc Dep A/c
Cr. Revaluation surplus A/cCould someone clarify how do we reverse Acc depreciation during revaluation.
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