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thanks vian for your response…i like your first part (calculation before revaluation) but I THINK…the calculation in second part especially..instead of debiting whole 4000 in PPE we have to dr. accumulated depreciation 2000 (as we need to zero it after the revaluation) and dr. PPE 2000 by crediting rev. reserve for 4000. Others entry i think is correct.
wrety, pls. help us whether we r right or wrong as we r confusing a lot in this…….
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@binay said:
thanks vian for your response…i like your first part (calculation before revaluation) but I THINK…the calculation in second part especially..instead of debiting whole 4000 in PPE we have to dr. accumulated depreciation 2000 (as we need to zero it after the revaluation) and dr. PPE 2000 by crediting rev. reserve for 4000. Others entry i think is correct.wrety, pls. help us whether we r right or wrong as we r confusing a lot in this…….
Thanks Binay,
I agree with u.
It is in according with “eliminate depreciation method”.
Dr. PPE 2000
Dr. Acc. Dep. 2000
Cr. OCI – RR 4000
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