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/c
And others as follows:
Dr. Acc Dep A/c
Cr. Revaluation surplus A/c
Could someone clarify how do we reverse Acc depreciation during revaluation.