- This topic has 1 reply, 2 voices, and was last updated 7 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
Sir a revaluation surplus will result in the following entries:
Dr P,P & Equip
Dr Accumulated depreciation
Cr Revaluation ReserveIn ascertaining the revaluation surplus, do we use the NBV of the asset now being revalued at the revaluation date or is it the initial cost of the asset?
Secondly sir, why do we need to debit accumulated depreciation?
If you want the tutor to respond you should ask in following forum-
https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-sbr-exams/
This forum is primarily designed for students to help one another.Hope this helps.
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.