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Hi mike Q1 refers solution page 229
Can you advise what the 1000 debited to reval reserve and cr to ‘s of comp inc’ refers to, is this a mistake?
Cheers
Hugh
Revalued by 35,000, 35 years remaining useful life? That’s an extra 1,000 per annum depreciation. It is good practice to transfer from revaluation reserve to retained earnings an amount equal to that extra depreciation
Ok?
Trawled through pages trying to find the answer to this question! Thank you Sir! It was wreaking my head!!! Andrea
Andrea, all you needed to do was post your question on Ask the Tutor on this site and I am here to answer your problems (accountancy problems – not personal ones nor romantic ones)
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