Page 126 - F3 -FA Integrated Workbook STUDENT 2018-19
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Chapter 8
2.3 Disposal of a revalued asset
The disposal of a revalued asset is recorded as normal, with the asset and
accumulated depreciation amounts cleared to a disposal account so that a gain or
loss on disposal can be calculated. However, with a revalued asset there is an
additional step required to clear any balance on the revaluation surplus in relation to
the disposed asset. This is done as follows:
Debit Revaluation surplus
Credit Retained earnings
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