Hi
i got a question about revaluation gain
the debit and credit is DR NCA
CR Other comprehensive income
My question is when do we credit rev reserve?
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Revaluation gain
All amounts passing into Equity, which are not part of the Profit and Loss are reflected in Other Comprehensive Income (OCI). Thus that credit to OCI represents the amounts being passed to the revaluation reserve. If you were to look in the Statement of Changes in Equity you would see
_________________________________Revaluation Reserve_________Retained Earnings
Total Comprehensive Income________________X_______________________X
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