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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Ias 16 – Revaluation
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
Hi,
It all depends on what information is given in the question but you usually see the first method being used most commonly.
Thanks