Why is the journal entry for assets is sometimes
Dr Asset with Revaluation - Cost
Dr Accumulated Depreciation
Cr Revaluation surplus
and other times Asset figure is the balancing figure?
Dr Assets (balacing figure)
Dr Accumulated Depreciation
Cr Revaluation surplus
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Ias 16 - Revaluation
5y ago#1Hi,
It all depends on what information is given in the question but you usually see the first method being used most commonly.
Thanks
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